Duncan Saville tips into proptech funding round

afr.com:

Online real estate marketplace Listing Loop – co-founded by an entrepreneur who sold his previous proptech to Carsales.com and backed by basketballer Andrew Bogut – has secured investment from Bermuda-based Duncan Saville, Street Talk understands.

Listing Loop brand ambassador and basketball star Andrew Bogut.  Jeff Chiu

Saville, whose private equity shop ICM is known for backing the likes of Gumtree (now owned by The Market Herald), personal lender MoneyMe, non-bank lender Resimac and Humm Group, led the proptech’s $2.1 million Series A funding round, increasing his stake alongside Michelle Catelan, whose late father founded RP Data (now CoreLogic). ICM’s investment came via its tech-focused Allectus Capital.

Sources said the raise is 75 per cent complete, with the company busy closing out the remaining half a million. Proceeds will be used to scale up the business.

Listing Loop has created an online marketplace for off-market property listings, sales by vendors for example that want more privacy or don’t want to fork out for marketing costs. It acquired Hello Haus earlier this month, a property negotiation service business and property advisory firm.

The company was co-founded by Mornington Peninsula-based entrepreneur Rhett Dallwitz in 2019, who sold his previous real estate website to Carsales in 2009 and subsequently worked at the ASX listed company.

He’s supported by a group of advisers that includes former Carsales commercial director Anthony Saines and First National Real Estate chief executive Ray Ellis and backed by NBA player Andrew Bogut. The basketballer first tipped money into the company towards the end of 2019.

Real Estate Institute of Victoria president Andrew Meehan and ex-Macquarie managing director