Proptech startup Before You Bid has successfully completed a Series A funding round, supported by an original team member of the $7 billion registry services giant Computershare.
It is understood that mortgage broking firm Square 1 Group, owned by former Computershare finance controller Tony Wales, and wealthy New Zealand investors the Gillespie family, were the primary backers in the funding round.
The Gillespie family, who invested through their family fund, is best known for selling NZ retailer Ezibuy to Woolworths for over $300 million in 2013.
Before You Bid managed the $2 million fundraising round internally, engaging with high net worth property investors over the past six weeks.
Co-founded by former UBS head of emerging companies research Jordan Rogers and his brother Rhys, the company provides building and pest inspection reports to residential property buyers, assisting them in making informed purchasing decisions.
CEO Rhys Rogers indicated that the funds raised would be allocated to hiring more product developers to expand Before You Bid’s offerings, among other initiatives.
Before You Bid plans to initiate a Series B funding round next year and is considering expanding its business to international markets. With the support of a prominent New Zealand investor, launching operations in the neighboring country seems to be a logical first step.
