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Equity crowdfunding: record collection of 2.7 million for Homepal

The proptech company Homepal, the first digital real estate agency on the Italian market, has exceeded in just 3 days from the start of the crowdfunding campaign the initial goal of one million, and in one month the target of $2.4 million (€2 million.) Homepal will use the funds for the recruitment of new resources and the creation of a new App, among others.

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Record collection for the equity crowdfunding of Homepal, one of the main proptech operators in Italy. Active since February 11th on Mamacrowd, the campaign closed at $3.24 million (€2.7 million), allowing the entry of more than 600 new investors who will contribute to the growth of Homepal’s project.

Supported by the partner Cross Border Growth Capital, as advisor, Homepal has reached in a short time a record collection, exceeding in just three days from the start the initial goal of one million, and in one month the target of $2.4 million (€2 million).

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What does the proptech company do

Founded in 2014 by Andrea Lacalamita, Fabio Marra, Monica Regazzis Homepal is the first digital real estate agency on the Italian market, which allows the direct meeting of supply and demand on the dedicated portal www.homepal.it and is able to offer – thanks to big data – innovative services through which customers can manage with greater awareness and concreteness as possible the search for home, with a saving that in some cases can reach – between seller and buyer – 75% compared to traditional agencies. Homepal, which closed 2020 with revenues of $2.4 million (€2 million), now has about 140 thousand online listings, of which 80 thousand for sale.

More than 8 million people looking for an apartment have transited the site since it opened in 2016. The company has been awarded the prestigious FinTech Awards as “best startup in the real estate sector”, is considered among the top 5 Italian startups according to the investment fund Boost Heroes, and was recently selected among the best innovative realities in Italy and Southeast Europe by ScaleIT, the platform-event dedicated to bringing together the best scaleups with international investors. It also won the SESA AWARDS in the e-commerce category for all of Southern Europe.

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How Homepal will invest the resources received from crowdfunding

The funds raised by equity crowdfunding will be used for the recruitment of new resources, the strengthening of the website and the online real estate valuation engine, the creation of a new App, and the investment in advertising to improve brand recognition. The goal of Homepal is to manage up to 500 real estate transactions per month and become a leader in real estate brokerage in Italy. “We start from today with a new advertising campaign on Sky networks and we are finalizing our new website that will be active from September – says Monica Regazzi, CEO of Homepal – with the aim of exceeding $4.2 million (€3.5 million) of turnover in this 2021, despite the pandemic still in progress”.

New entries of Digital Agents are also expected: “We have created a new job, now the real estate agent works from home, manages transactions and no longer has to acquire the properties, organize visits and deal with bureaucracy. The technology of Homepal allows us to be present throughout Italy, with more than 80 thousand sales ads” – concluded Fabio Marra, co-founder and CCO of Homepal.

“With the crowdfunding campaign we shared the vision of Homepal with our community – says Andrea Lacalamita, co-founder and President of Homepal – The goal reached fills us with pride and motivation. We thank all the over 600 members who have invested in our growth project. A well-planned path that will allow us to accelerate the revolution of the real estate sector through technology while also offering savings to the customer”.

Fabio Mondini de Focatiis, Founder & CEO of Cross Border Growth Capital comments: “Homepal has shown to respond quickly and effectively to the challenges that the last months have reserved. Its success demonstrates how the flexibility of a digital approach is able to meet the needs of customers and seize all the opportunities that the market presents. It has been a pleasure to be able to assist a close-knit team that has introduced a truly disruptive business model and approach to the market.”

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(Featured image by The Lazy Artist Gallery via Pixabay)

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First published in NETWORK DIGITAL 360, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Anne Kings is a reporter for the financial sector, often tackling Wall Street and shareholders' interests. She also covers the intersection of media and technology, and delves into interesting topics on entertainment. Sometimes she also writes about the cannabis industry, in particular CBD and hemp. She is currently based in New York.