Verafind secures investment from a consortium including Mark O'Hare to expand its land acquisition platform.
A consortium of high-profile property and data figures has acquired a 41% stake in the land acquisition technology platform.
Verafind operates a specialist land acquisition platform that automates site sourcing and appraisal for developers. The company uses proprietary geospatial technology and data tools to serve residential, commercial and infrastructure markets.
Verafind has secured a significant investment from a consortium of backers, including Preqin founder Mark O'Hare, Revcap Advisors founding partners Will Killick and Andrew Pettit, and Goodstone Living co-founder Darryl Flay. The funding follows the divestment of a majority stake by co-founder Ringley Group, paving the way for the new syndicate to acquire a 41% share in the business.
Established originally as VirginLand by Ringley, the London-based firm operates an outsourced land department for developers, asset owners and infrastructure providers. The fresh capital will be deployed to scale operations, upgrade artificial intelligence and data infrastructure, and launch European expansion.
The backing brings seasoned real estate and data expertise to the platform as it targets growth across residential, commercial and energy sectors. Ringley Group will retain an ongoing involvement on the board to support the next phase of development.
From the founder
"This is an exciting strategic milestone for the business that demonstrates proof of concept, where we are leveraging sophisticated technological solutions to unlock a deeply opaque land market. Our new investors recognise that as the AI landscape evolves, there is early mover advantage to be had by backing emerging companies applying it to a part of the real estate market that has always suffered from a lack of innovation."
Dan Robinson
Managing Director at Verafind
Use of funds
- 01Continue product development
- 02Build out infrastructure
- 03Expand into international markets