London startup Nested raises a wee bit of money to buy your home and skim from the sale
Just ask anyone, anywhere, ever, and they'll tell you: Buying and selling homes is a risky business. But help's supposedly on the way, in the form of yet another attempt at disrupting a business ostensibly in desperate need of a paradigm shift.
At least, if you ask the people behind the startup.
That's what the people at Nested, a London-based endeavor, are thinking. Nested guarantees it'll sell your house within 90 days (at 95 to 98 percent of market value), or offer you a cash advance against the sale. Now, it's raised €8 million euro ($8.6 million USD) to do so, bringing its total funding to €11 million, TechCrunch reported.
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TechCrunch compares Nested's basic operational purview as that of a real estate agent, enhanced by technology.
What's in it for Nested? If they score a higher sale price than what's agreed upon, it'll take 30 percent of the difference, and give the rest to the property owner.
Again, it's a lot of risk, and Nested is far from the only player. Opendoor, a startup with a similar mission (but based in San Francisco) raised $210 million in a Series D round in November. That brings its total funding up to $320 million.
But Nested and its founders remain confident. They've helped five sellers a month so far. Their next goals, according to TechCrunch, are to hit 100 deals per month, and not too long after that, 1,000 per month.
