Property technology startup Nomad Homes is working to change that by creating a personalized real estate buying experience in Europe, the Middle East and Africa, a region that represents $20 trillion in real estate. Nomad Homes announced a $20 million Series A funding co-led by 01 Advisors, an investment fund co-founded by former Twitter executives Dick Costolo and Adam Bain, and The Spruce House Partnership. There was also a group of new and existing investors that participated, including Goodwater Capital, HighSage Ventures, Abstract Ventures, Partech, Class 5 Global, Precursor Ventures and Alta Park Capital. The company has raised a total of $24 million since Chen, Dan Piehler and Damien Drap started the company in 2019 after bonding over finding a place to live in a new city. They have collective backgrounds in Blackstone, Addepar and Uber, while Chen also left the Stanford Graduate School of Business to start the company. Nomad Homes is creating its own MLS for the region and applies technology to the expertise provided by local customer services experts to provide home buyers with all the information they need, from the initial search to financing and signing all of the documents.
Nomad Homes has built an incredible platform that is shaping the future of real estate across EMEA. After announcing its launch and seed round in 2020, the company’s platform is now online in Paris and Dubai. It is expanding into Southern Europe and building out its team in the United States and Europe. As transaction volumes grew over 16 times through the first half of the year, the Series A was an opportunity to accelerate into new markets and heavily invest in the technology and product to improve the experience for customers.