UAE-based prop-tech Nomad Homes announced it closed a $20 million Series A extension round, led by Acrew Capital, according to a company statement.
Acrew Capital is a multi-stage venture fund based in the Bay Area that has invested in companies such as Chime, Coinbase, Gusto, and Cato Networks, among others.
The company is a software-enabled marketplace for residential real estate across Europe and the Middle East (EMEA).
With operations in France, Spain, Portugal, and the UAE, the prop-tech has hit growth with over 24x since its last fundraise.
Nomad Homes will use the funding to continue investing in growth, further build out its AI-driven co-pilot for buyers, and launch Nomad Homes Private Client.
Nomad Homes focuses on the home buying experience in Dubai by providing buyers with separate and impartial representation from sellers and exclusive access to Dubai’s largest pool of off-market listings.
Clients receive a specialized buying agent who acts as a single point of contact and offers expert and impartial advice separate from the agent selling the home.
In addition, buyers receive exclusive access to the largest collection of off-market properties across Dubai, which is powered by the company’s B2B platform, Nomad Agent. All the services are at no additional cost for home buyers because the standard buying commission is shared with the agent selling the home.
“Buyers deserve expert representation just like sellers do; having one agent represent both buyers and sellers is just not fair,” says Helen Chen, Nomad Homes CEO.
The funding will be used to continue investing in growth, further build out its AI-driven co-pilot for buyers, and launch Nomad Homes Private Client.
Nomad Homes Private Client is a bespoke service for clients purchasing a single property or a portfolio of assets worth over 10 million AED.
Vishal Lugani, General Partner and co-founder of Acrew says, “Having known and followed Helen and the Nomad Homes team for some time, we’ve seen the company’s tremendous growth over the past few years.
“Now, with their new Nomad Agent product, Nomad dramatically improves real estate agents’ workflow while also helping bring more trust and transparency to consumers who are looking to buy their home. It’s in a time like this, with housing costs spiraling, that the world needs a solution like Nomad.”
Acrew was joined by existing and new investors 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood, and several undisclosed hedge funds.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.