Real estate disruptor Blok bags fresh funding
Finland’s first digital real estate company, Blok, has closed a 1.6 million-euro funding round. The company challenges traditional real estate agents with its automated broker service and low commission charge.
New investors in Blok were media company Bonnier and Lifeline Ventures, who joined previous investors Picus Capital, Evli‘s founder and owner Henrik Andersin, and former Supercell marketing executive Erlend Christoffersen in the latest funding round.
Blok’s digital platform automates nearly all routine tasks involved in selling an apartment and the team also creates 3D models of each of the apartments at its service so buyers get a good overview before a visit.
“The apartment owners take care of the showing, while we take care of everything else such as all related paperwork, photographing and marketing” says Blok CEO Rudi Skogman. “The service is especially interesting to home sellers since it offers the service for a significantly lower commission than traditional real estate agencies.”
So far Blok has sold over 100 apartments and its turnover for 2017 was 100 000 euros. Sales in 2017 amounted to more than 15 million euros worth of apartments, while sales in 2018 have already exceeded 10 million euros.
Blok was selected as innovation of the year at the annual Finnish Real Estate Market event and also listed as one of Wired UK‘s “Europe’s Hottest 100 Startups” in September 2017.