Listing Loop, the Melbourne-based proptech company, has successfully closed the initial installment of its Series A funding round, securing a substantial $2.1 million in investment. Co-founder and CEO Rhett Dallwitz expressed confidence in the startup’s financial position, revealing that they have already secured over 75% of their funding commitments and are set to finalize the remaining $500,000 over the coming weeks.
Dallwitz highlighted the impressive growth of the company, citing a remarkable year-over-year revenue increase of 174%. He stated, “Our company is currently at a pivotal stage of acceleration, and the raised capital, coupled with the strategic guidance from our lead investors, will propel us into our next phase of growth as we continue to expand our comprehensive property transaction solutions.”
This Series A funding round was led by existing investor Duncan Saville, an expat Australian, who channeled the investment through Allectus Capital, a tech-focused subsidiary of the investment holding company ICM Ltd, which he chairs. ICM Ltd has a track record of supporting successful ventures, including Gumtree and ASX-listed fintech MoneyMe, for which they raised $37 million earlier this year. They also have investments in Resimac and Humm.
Michelle Catelan, a member of the family that founded RP Data (now CoreLogic), and who previously invested $3 million in Allectus in mid-2021, also participated in this latest funding round.
Notable backers of Listing Loop include Resi Ventures and basketball legend Andrew Bogut.
Listing Loop, co-founded in 2019 by Rhett Dallwitz and Andrew Meehan, the President of the Real Estate Institute of Victoria, initially started as a marketplace aimed at providing buyers with quick and easy access to pre-market and off-market real estate opportunities. This niche segment accounts for approximately 100,000 property transactions annually, representing 20% of the national market, but often remains unadvertised through traditional channels.
Over time, the company expanded its offerings to include several Loop-branded solutions related to property purchases. These include Lending Loop, a mortgage comparison platform; Conveyancing Loop; and Moving Loop. Three months ago, Listing Loop acquired Hello Haus, a property negotiation and advisory firm.
Rhett Dallwitz emphasized that Listing Loop now offers a streamlined digital ecosystem that harnesses advanced AI technology while maintaining a strong human connection.
He stated, “The property transaction services sector is a massive $363 billion market annually, and Listing Loop is poised to lead the way in transforming this industry by providing consumers with a streamlined digital ecosystem that revolutionizes the entire property journey, from start to finish.”
