Startup

Proptech Startup Nomad Homes Closes $20 mn in Series A Extension

The round was led by Acrew Capital and included previous as well as new investors.

By Inc.Arabia Staff
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Dubai-based property tech startup Nomad Homes has closed a $20 mn Series A round extension, led by Acrew Capital, the company said in a press release. The round included investments from 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures and Knollwood Investment Advisory, in addition to undisclosed hedge funds. The funding will go towards improving Nomad Homes' mortgage capabilities and its AI-powered co-pilot tool, which provides buyers with automated recommendations. It will also go toward improving and accelerating Nomad Agent – a network for real estate agents to collaborate and standardize commission sharing – which was launched in February of this year.

Nomad Homes, which was co-founded by Helen Chen, Daniel Piehler and Damien Drap in Dubai in 2019, is a marketplace for residential real estate listings that aims to make real estate transactions more efficient. Nomad Homes has a footprint across Europe and the Middle East, with operations across the UAE, as well as in France, Spain and Portugal. The app works by giving users a “style quiz” which allows the company to match users with the best-suited properties.

Helen Chen, CEO of Nomad Homes, tells TechCrunch that the company has been growing its revenue six-fold year-on-year and 24-fold since its $20 mn Series A raise two years ago.

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