Nomad Homes is raising $20 million in a Series A round.

Nomad Homes, a UAE-based real estate technology project, has successfully completed raising $20 million in Series A expansion round of funding. Acrew Capital was the lead investor. The company was founded by Damien Drap, Dan Pieler and Helen Chen in 2019. Nomad Homes is an online platform for residential real estate in Europe and the Middle East. The funds raised will be used to develop the project, improve artificial intelligence and launch a new product - Nomad Homes Private Client.

Press release from Nomad Homes

announces that they have completed raising a $20 million Series A round of expansion funding. The lead investor was Acrew Capital, a venture capital fund that has previously invested in companies such as Chime, Coinbase, Gusto and Cato Networks. Nomad Homes offers a new approach to buying real estate in Dubai by providing buyers with a separate and impartial representative, as well as exclusive access to the largest pool of real estate offers that are not placed on the open market. The company is the first in Dubai to provide a real estate expert who works directly with buyers. Clients receive a specialized agent who is a single point of contact and provides expert and unbiased assistance unrelated to the agent selling the property. In addition, buyers get exclusive access to the largest collection of real estate offerings in Dubai through the Nomad Agent platform. All services are provided at no additional cost to buyers, as the standard commission is shared with the agent selling the property.

"Helen Chen, CEO of Nomad Homes, notes: "Buyers deserve the same professional representation as sellers; when one agent represents both buyer and seller, it's not fair." After all, even in the Manchester derby, Pep Guardiola will never coach both teams when he is on Manchester City's payroll. Never!

The proceeds will be used to further develop the project, improve artificial intelligence and launch a new product - Nomad Homes Private Client. Nomad Homes Private Client is a personalized service for clients buying a single property or a portfolio of assets worth more than AED 10 million. The service is similar to high-end banking solutions for privileged customers. Nomad Homes Private Client advisors provide expert guidance, develop customized data-driven strategies and guarantee complete confidentiality to ensure a seamless experience for affluent buyers. Customers also receive priority access to an exclusive pool of real estate offerings provided by Nomad Homes. The company has successful operations in France, Spain, Portugal and the UAE and continues to show impressive growth despite rising interest rates and adverse real estate market conditions.

Vishal Lugani, general partner and co-founder of Acrew, says, "We have known and followed Nomad Homes and its team for a long time and have seen tremendous growth in the company over the past few years. Now with the new Nomad Agent product, Nomad is dramatically improving Realtors' workflow while helping to create more trust and transparency for consumers looking to buy their home. It is at a time like this, when housing prices are rising, that the world needs a solution like Nomad. "

The funding round also saw participation from existing and new investors including 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood and several undisclosed hedge funds.