Global Founders in £36m Nested round

The fresh capital will enable the company to target expansion in the London residential property sales market, before implementing a plan to expand nationwide.

The investment brings the total amount raised by the company to around £50m. Nested said in a statement that, based on current demand, it anticipates increasing its share of the London market to 5-10% within the next 12 months.

Previous funding
Passion Capital led an £8m funding round for Nested alongside Global Founders and other angel investors in March 2017.

Company
Nested is headquartered in London and was founded in January 2016 by GoCardless co-founder Matt Robinson, former Songkick chief technology officer Phil Cowans and architect James Turford.

The company provides home sellers with a valuation of their property and then guarantees payment of 95-97% of that valuation within 90 days, enabling the vendor to make a chain-free offer on another property. It carries out the marketing of users' homes on platforms such as Zoopla, Rightmove and PrimeLocation, and manages the sales process. The remainder of the sale price is paid to vendors once a property has been sold, with administration and estate agent fees deducted.

People
Global Founders Capital - Oliver Samwer (co-founder).
Nested - Matt Robinson (CEO).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Venture