Norban, the operator of a unique housing marketplace and brokerage service in Sweden, has successfully raised € 2 million (25 million SEK) in a recent capital round. This funding round, led by VEQ and joined by investors including Neptunia Invest, Beijer Ventures, Falvir, Tibia Konsult, and Johan Tjärnberg, is earmarked to further strengthen the company’s technological infrastructure and drive it towards profitability.
Norban distinguishes itself in the real estate landscape by merging traditional brokerage services with its innovative Pre-Market platform. This approach allows sellers to explore the market’s potential without committing to advertising costs upfront. According to Per Hedenmark, CEO of Norban, they have sold nearly half of properties before they even hit the open market through Pre-Market.
“Sellers want to optimize their transactions while minimizing risk, and not selling a property at all is their biggest fear. Sellers simply do not want to list their homes in a sluggish market. Through our Pre-Market, we offer sellers a strategy that combines the security and service of a dedicated broker with the reach of a marketplace. This enables sellers to build a buyer base before entering the open market. In fact, with Pre-Market, we have managed to sell nearly 50% of properties before they even hit the open market.”says Per Hedenmark, CEO of Norban
The democratizing potential of Pre-Market has attracted new investor VEQ. Norban aims to act as a catalyst for the digital transformation of the sector by combining human service with technology.
Norban currently serves nearly 50,000 platform users on both the seller and buyer sides and has facilitated transactions with a total property value exceeding 4 billion SEK. The company’s service is available in Stockholm, Gothenburg, Malmö, Helsingborg and Lund. Norban was founded by Per Hedenmark, Adrian Miller, and Daniel Bergström.
This funding round marks a significant step for Norban in its mission to redefine the real estate market in Sweden.