The London-based real estate fintech startup secured equity and deployment capital from prominent backers to scale its property platform.
"Selling a property is the biggest and often most stressful transaction in our lives. It takes on average 191 viewings and many months to identify a buyer. About 40%2 of transactions still fall through at that point due to financing risk, changing circumstances and minds. When selling to IMMO, customers enjoy a chain-free, professional experience that is fast, reliable, transparent and convenient. We offer attractive prices without charging fees and enable homesellers to plan their lives around this important transaction."
The seed round was backed by private individuals and family offices including Michael Spencer.
"DDCM is delighted to have closed its initial seed funding, drawing equity capital from a small group of the highest quality, well informed, independent and relevant individuals and family offices."
— Charlie Berman, Co-Founder and Chief Executive Officer
The oversubscribed funding round was led by AV8 Ventures to support the company's market launch.
"The UK mortgage market is one of the very few sectors in which consumers are yet to seriously benefit from advances in technology. We have built a technology platform that will lead to better outcomes across the eco-system, in particular for borrowers and mortgage intermediaries. M:QUBE has the power to transform this largely un-innovated market for the benefit of all key stakeholders and improve returns for banks, building societies and institutional investors in the process."