Proptech platform OneDome finds home for $25m funding injection

A financial and property technology business which integrates elements of the homebuying process has clinched a $25m funding injection as it seeks to accelerate its expansion.

Sky News understands that OneDome will confirm on Wednesday the pre-Series C fundraising, taking the total sum it has raised to $40m. The latest round includes a media-for-equity deal with Channel 4, the state-owned broadcaster, worth up to £7.5m, which was reported by Sky News late last year.

OneDome's HomeBuyer service provides mortgage advice, conveyancing and transaction management in a single fixed-price bundle sold for £999. Last year, the company acquired Trussle, the online mortgage broker, which had raised funds from investors including Goldman Sachs.

OneDome - chaired by the veteran former City lawyer Sir Nigel Knowles - has set a five-year target of being involved in 10% of all UK homebuying transactions. The company, which says it is already profitable, wants to triple revenues by the end of 2026.

The platform arranges roughly $1.4bn of mortgage lending every month and works with a network of over 500 mortgage brokers, making it one of the largest mortgage and property platforms in Britain. "Buying a home is still one of the most stressful and disjointed financial transactions people go through," Babek Ismayil, OneDome's founder and chief executive, said.

"We started OneDome to fix that by bringing everything under one roof and turning homebuying into a simple, transparent retail experience. "This funding allows us to scale what is already a profitable and fast-growing platform, while continuing to challenge how homes are bought and financed in the UK." OneDome declined to name the other investors in the latest round, saying they were family offices across the UK, Saudi Arabia, the United States, and Australia..