London-based proptech start-up Settled has closed a £1m seed round to expand operations and disrupt the real estate sector.
The round was led by 500 Startups, a global venture capital seed fund and start-up accelerator based in Silicon Valley.
Matthew Lerner, partner at 500 Startups, said: “Across our portfolio we see property tech companies making big waves. And residential real estate in the UK presents a great un-tapped opportunity for great start-ups. We are looking forward to watching Settled continue to grow.”
The company allows homeowners to sell their property online and will use the funding to expand its service.
Gemma Young, CEO and co-founder of Settled, said: “Interestingly the existing hybrid services or online agencies are overwhelmingly run by ex estate agents.
“By contrast we are a tech company, dispelling the myth that consumers must rely on ‘expert middlemen’ to help them sell or buy property.”
Since launching earlier this year, Settled claims to have helped customers sell over £50m worth of property.