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.

The post Norban Secures € 2 Million Funding to Revolutionize Sweden’s Real Estate Market appeared first on Øresund Startups.

Founded in 2019 by Per Hedenmark, Adrian Miller, and Daniel Bergström, the startup has an app which provides a service known as Pre-market, where the seller himself publishes the details of his home to reach more buyers.

“By simplifying and improving the purchase and sale of homes, we have created a hysterical demand. We get in about 10 new home sellers a day and have already sold homes to a total value of over SEK 1 billion “, says Norban’s CEO and co-founder Per Hedenmark in a press release sent out due to the capital injection. 

The startup will use the new capital to develop the product and further accelerate the pace of housing markets in Sweden and internationally. Norban’s services are available in Stockholm, Gothenburg, Malmö, Helsingborg, and Lund and have sold over 400 homes since inception.

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Norban, founded by Adrian Miller and Per Hedenmark, is challenging the traditional real estate market by combining its own “pre-market” marketplace with a tech-enabled brokerage. The startup enables homeowners to list their home via the Norban app and immediately gain interest and followers. On top of that Norbans own brokers and photographers develop the listing at no cost

The startup has gotten some traction. It launched in Helsingborg first, one of Swedens hottest real estate markets, and has since then expanded. During 2020 home prices have continued to rise in Sweden, and Norban launched in Malmö right during the Corona cirsis in April. There is has already onboarded 300 homes (of it’s 1200 total), during these 6 month. The startup is currently active in besides in Helsingborg and Malmö also in Stockholm and Lund.

The startups business modell is a fixed commision of SEK 30 000 for each sold house. If it is sold on their own app, then the buyer pays the commission, instead of the seller. Norban says it has reached SEK 3 million (€ 290 000 ) in commisions this year so far.

You can read more over at DIgital.

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