REX collects $40m in Series C1 funding

PropTech platform REX has collected $40m in a Series C1 round, bringing its total funding efforts to $115m.

The platform, which is live in 23 cities across 17 US states, is using the new capital to continue its nationwide deployment.

Another use for the new funds will be to broaden the availability of the mortgage, insurance, escrow and other services it offers.

The real estate brokerage platform uses data science, machine learning and artificial intelligence to prove homes more accurately and target the property to qualified buyers via Zillow, Google, Facebook and more.

Through the platform, REX claims to help people save up to 70% when selling their home.

REX co-founder and President Lynley Sides said, “REX offers buyers and sellers a less expensive, more effective and far easier way to conduct the most important transaction of their lives.

“In contrast to the outrageously high charges levied by the MLS realtor cartel, REX helps families preserve their hard-earned savings.”

During 2019, REX increased the number of listings it handled by 300% year-over-year.

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