Online home buying platform ListingSpark has secured $2m in its Series A round from Silverton Partners.
With this funding, the company hopes to expand into additional markets, offer new services, and hire ore staff and estate agents. The company will also look to build out the newly launched affiliated title company Spark Title.
Founded in 2013, ListingSpark aims to ease the buying and selling of properties. Sellers gain access to all the tools used by agents and without the need to pay big commission fees.
It works by a seller uploading details of the property, and ListingSpark will then send a professional photographer to capture the property. The ListingSpark platform will then use pricing techniques and local housing data to optimise the value. Once a buyer is found, the seller just has to sign the paperwork.
Over the past two years, the company has helped to sell over 1,758 homes, saving consumers an average of $7,2000 per transaction, according to the company.
The company launched Spark Title to complement its own services by assisting the residential and commercial closings and escrow, as well as title insurance transactions of all types.
ListingSpark co-founder and CEO Brett Appolito said, “It has always been our vision to provide a turnkey solution for buyers and sellers who want a streamlined process and a smooth transaction without having to give up so much in commissions. Silverton Partners has given us the foundation we need to achieve smart growth.”
Last week, title insurance company Spruce Holdings help the $15.6m close of a funding round from Bessemer Venture Partners, Omidyar Network, and Collaborative Fund. The business helps lenders to provide consumers with a title insurance and escrow service to ease the mortgage closing stage.
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