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News & Analysis

Basketball legend Andrew Bogut backed proptech startup Listing Loop in a $3 million raise

- June 6, 2021 2 MIN READ
The Listing Loop Board
The Listing Loop board: CEO and co-founder Rhett Dallwitz, investor Michelle Catelan, co-founder and chair Andrew Meehan, and COO Michael Locaso. 
Real estate marketplace ListingLoop.com.au, which specialises in pre-market and off-market property sales, has closed a $3 million round to accelerate its already stellar growth.

The pre-series A raise was co-led by Michael Locaso from investment and advisory firm LP7, who has since become the company’s Chief Operating Officer and property entrepreneur Michelle Catelan from RP Data’s  founding family of RP Data, Australia’s leading property data, information and analytics  provider (now CoreLogic). Michelle joins Rhett Dallwitz, Andrew Meehan and Michael  Locaso on the Listing Loop board.  

A consortium led by specialist property developers Resi Ventures, as well as Allectus Capital, joined the round alongside  sophisticated and professional investors including basketball legend Andrew Bogut. 

Founded 2019 by proptech entrepreneur Rhett Dallwitz and real estate director Andrew Meehan, Listing Loop gives property buyers quick  and easy access to pre-market and off-market real estate – a sector of around 100,000 property transactions, 20% of the national market annually – that are not typically advertised through mainstream channels..

Dallwitz, the CEO, said the investors were committed as they are to shaking up real estate advertising.

“This raise will accelerate our rapid growth and expansion across Australia while continually  building out our technology and AI features,” he said.

“From day one we’ve adopted an agile approach  that allows us to cater to the needs of independent and franchisee real estate agencies, through to the growing demand from corporate real estate franchisor groups around the  country.”

Dallwitz said Listing Loop is not competing with the lists of Domain and REA, notifying buyers are in real time the moment a new property is up for sale before any mass market campaign.

With a hot property market, sale times have halved in the last 12 months to less than 25 days and Listing Loop has seen 250% user growth in last six months as well as 120% listing growth.

Dallwitz said Listing Loop’s smart tech also gives agents a competitive advantage to win new listings and  sell properties faster, while sellers realise that great prices can be achieved with off-market sales, without having to pay advertising fees upfront.