Los Angeles, CA, July 10, 2020 (GLOBE NEWSWIRE) -- Fast-growing real estate technology startup, Nada, has just launched their $2mm seed-round of fundraising. Based in Dallas, one of the hottest real estate markets in the nation, Nada opened their doors in 2018 with a mission to empower homeowners to buy and sell their home online while paying $0 (nada).
The company has recently expanded its services with the launch of two additional business verticals: Nada Loans and Nada Insured, adding to their existing Nada Realty and Nada Services (settlement and closing services) businesses. Unlike 95% of the real estate industry, Nada has vertically integrated each of these services into a single digital solution that enables them to deliver a more affordable, transparent and stress-free experience to their customers.
Earlier this year, Jeremy Males, broker and owner of an established Dallas-based independent brokerage, SubZero Realty, quickly recognized the value in Nada’s platform and business model. The SubZero Realty team had been operating for a few years and already helped hundreds of homeowners save on real estate commissions. Mr. Males reached out to John Green, Co-founder and CEO of Nada, with the hopes of joining forces on a shared vision of bringing meaningful change to an industry that’s been resistant to change for far too long.
“After our initial meeting, I knew Jeremy was the leader we had been searching for to head our real estate team. Jeremy’s background in education and entrepreneurial experience from having already built his business from the ground up gave me great confidence that he had the grit and purpose we look for at Nada. We are thrilled to have him join.” said John Green.
Jeremy and his team have officially joined Nada. With Jeremy leading the charge for Nada Realty, the company is ready to move into growth mode.
“With SubZero Realty, we were unique in the sense that we were truly serving our clients like they were family and placing their best interests in front of our commissions. However, I knew we needed to connect with another brokerage with the technology and capability of scaling. When I met with John, it was quickly evident that Nada was the connection we were looking for, and that they had a solid plan of growing the business without sacrificing our core beliefs. We couldn't be happier to be a part of the Nada team and we look forward to building a brokerage that transcends the norm.” said Jeremy, now Head of Realty services with Nada.
Equipped with a rapidly growing real estate team and vertically-integrated home buying and selling service platform, Nada is now raising new capital to accelerate their growth and bring more savings to more homeowners.
The company previously raised $500,000 of pre-seed capital from a strategic, private investor with success in the FinTech space. The founders decided that, in addition to traditional private venture capital fundraising, they would also seek out non-traditional methods during this seed-round. Nada partnered with Republic, the industry-leading online equity investing platform for startups, to make part of this round available to the public (non-accredited investors).
“We strategically chose Republic because they are the premier crowdfunding platform, giving us access to one of the largest startup ecosystems in the world. We believe in the democratization of fundraising and welcome capital from a diverse set of investors.” said Mauricio Delgado, Co-founder and Chief Strategy Officer of Nada.
As part of the limited-time public offering, both accredited and non-accredited investors can get in early with Nada for as little as a $100 investment using the Crowd SAFE type of security. You can visit the campaign page here: https://republic.co/nada.
The “SAFE" is a Simple Agreement for Future Equity. An investor makes a cash investment in a company, but gets company stock at a later date, in connection with a specific event. The Crowd SAFE is a modified SAFE that is better suited for crowdfunding.
“One of the core values at Nada is transparency, which is the primary reason we chose to take the time to complete this filing and make our records, plans, business model, and future growth targets fully available to the public.” added John.
The company is raising up to $2mm in capital through both public and private channels. Specifically, with the public offering, the company is raising up to a $1.07mm maximum, with the remaining capital coming in from a private offering of convertible notes.
With the funds from this seed round, the company will focus on further establishing new business verticals and enhancing their proprietary technology by fully integrating each of their services into its platform. The company plans to continue growth of their direct-to-consumer sales channel throughout the state of Texas and to fully launch their affiliate sales channel into new markets by 2021.