Downsizer, a Sydney, Australia-based startup venture, raised A$3.75 million in seed funding, bringing its total funding raised to date to $6.1 million.
The round was led by Correlation Australia Holdings (CAH), who made a significant strategic investment. Existing shareholders, including family offices and high net-worth individuals, also participated.
The funds will be used to accelerate the growth of its unique SaaS platform operating at the intersections of fintech, proptech, and insurtech.
Downsizer’s Co-Founder & Managing Director Mark Macduffie said: “At Downsizer, our mission is to help downsizers achieve their desired home transition, so they can stop worrying and start living! For example, we know that a big attraction for downsizers is reducing home maintenance and chores, upsizing luxury and convenience, and releasing equity to top up retirement income. At the same time, we know that a big barrier is funding a cash deposit. We’re thrilled to welcome Correlation and Lombard as investors and business partners. Culturally and commercially it’s a great fit.”
Its Deposit Power Downsizer Bond enables anyone to use the equity in their owned home to back a deposit bond and secure a brand-new dwelling without having to put down a cash deposit and is also available to investors, including Self-Managed Superannuation Funds (SMSFs).
The startup’s technology and intellectual property are helping property developers, real estate agents, financial advisors, mortgage brokers, lenders, insurance brokers, and underwriters, to engage with Baby Boomers and Gen Xers aged 50+ years.
The platform provides digital content and market insights for use in lead generation. It also has a national property marketplace where developers can list off-the-plan properties and access a real-time sales dashboard.
Company: Block Builder Pty Ltd
Round: Seed Rond
Funding Month: March 2023
Lead Investors: Correlation Australia Holdings (CAH)
Company Website: https://www.downsizer.com/
Software Category: Property Downsizing
About the Company: Founded in 2019, Downsizer is an Australian proptech venture developing solutions for the property downsizing market. It helps the finance, property, and insurance industries to deliver innovative digital solutions to the downsizer generation, so they can make that all-important home transition with ease and confidence and enjoy life’s next phase with an improved lifestyle and better finances. Downsizer runs on R3 Corda blockchain technology, which allows it to transfer to other similar markets with ease and speed – like the USA, Canada, New Zealand, and the UK. The company is based in Sydney, Australia, and is the market-facing brand of Block Builder Pty Ltd.