HomeFundingMalmö-based proptech Norban raises €1.7 million to expand to Gothenburg and Copenhagen

Malmö-based proptech Norban raises €1.7 million to expand to Gothenburg and Copenhagen

Today Malmö-based proptech startup Norban has raised approx. €1.7 million, having also secured a valuation of around €4.8 million. The round was led by investors Johan Tjärnberg (founder of Bambora) and David Hedman (Sneakers & Stuff, WESC)

Founded in 2019, Norban, is the brainchild of Adrian Miller and Per Hedenmark, and aims to challenge the traditional real estate market by combining its own ‘pre-market’ marketplace with a tech-enabled brokerage. 

So how does it do this? Norban allows homeowners to list their home via the Norban app and immediately gain interest and followers. To give a further helping hands, the startup also owns brokers and photographers develop the listing at no cost. Norban has no exclusivity or binding time, so users are free to leave at any time.

The startup already has several thousand active buyer profiles, with more than 1200 homes published. It’s worth mentioning that more than 300 homes were published in Malmö alone since Malmö launch in April 2020, showing the startup’s strength during the pandemic. In fact, the startup states that 40% of swedes want to move, and aims to use this momentum to sell 150 homes in 2020 and 600 homes in 2021.

Currently the startup is present in Malmö, Lund, Helsingborg and Stockholm, having first launched in Helsingborg, one of Sweden’s hottest real estate markets. The startup will use the funds to expand its reach over the next year; Per Hedenmark of Norban, stated, “We will use the funds for further expansion to Gothenburg and Copenhagen. We will also raise our marketing budget and development.”

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Charlotte Tucker
Charlotte Tucker
Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.

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