Stockholm-based VEQ, a venture capital firm, announced that it has led a 25M SEK (€2M) funding round in Sweden-based digital real estate broker and marketplace Norban.
Norban has been transforming the real estate industry in the country, which has been slow to adopt digitalisation. The company provides home sellers and buyers with a seamless experience in buying or selling a new home.
VEQ says that Norban has positioned itself as the foremost digital broker in Sweden, pioneering a a pre-market for housing transactions with more than 50,000 users and facilitating transactions exceeding 4B SEK (€335 M) in value.
“When we met the team behind Norban, we were very impressed with what they had accomplished in just a few years. They are changing a whole market, which feels very exciting and we are sure that they are onto something big,” says Viktor Gällström, a partner at VEQ.
“We are looking forward to working with the company and helping them change the way we buy and sell homes today,” he adds.
Client-centric brokerage solution meets expert funder
Norban is a real estate technology firm that assists individuals in selling their homes by providing an integrated marketplace and brokerage service.
Its mission is to deliver customer value to sellers and buyers in the real estate market. Norban is committed to changing industry norms by prioritising people over fast-paced business practices. It aims to ensure services that prioritise individuals’ needs and preferences.
For brokers, Norban promises a transformative daily work experience. Instead of focusing only on commission-based models that often lead to stress, Norban provides a secure, supportive, and focused workplace environment. It sets professional growth for its team members on top.
With Norban, clients can expand their reach to more buyers, enhancing the likelihood of achieving a higher final selling price, and reducing costs associated with third-party services.
“In an industry that is in great need of innovation, Norban gives both me as a broker and my clients the tools that you cannot get from a traditional broker. The concept provides an incredible team spirit that benefits all parties,” says Filip Billhäll, a broker at Norban in Malmö.
About VEQ
VEQ specialises in investing in early-stage software firms boasting innovative, scalable digital concepts. Its focus centres on founders who exhibit resilience, intelligence, and integrity with a strong moral compass guiding their endeavours.
VEQ consists of a team possessing diverse functional and industry expertise. The team works with portfolio companies to offer support in critical areas to kickstart their growth journey.
VEQ’s expertise includes product development and design and facilitating growth through effective commercialisation and marketing strategies. The company also maintains financial and legal compliance and aids in talent acquisition and retention.
Its hands-on experience includes collaborating with founding teams, encompassing strategic guidance and actual code development, and combining it with its resource network via VNTRS.
