Buying a new home while waiting for the existing one to sell has always posed significant challenges for homebuyers. Aiming to resolve this problem, Nested has come up with a pioneering idea that is transforming the way people buy and sell properties. Earlier, homebuyers and other stakeholders were plagued by property chains, which is the chain of people waiting for their existing homes to be sold before they can proceed to buy their new home. Just a single bad deal in the property chain led to the collapse of the entire chain, resulting in huge costs for homebuyers and pushing them back by several months in the process of buying their new home. This is exactly where Nested comes in to alleviate the pain of homebuyers who don’t want to suffer due to the long wait and uncertainties of property chains.
Nested’s business model is quite easy to understand, even though there’s a lot of maneuvering and complex processes handled by the company in the background. The experience for homebuyers has been simplified, so that they can sell their existing homes as soon as possible and also get the best price for the property. One of the best things about Nested is that it allows homebuyers to bypass the typical property chains that exist in the real estate market. Nested guarantees that if it is not able to find a buyer in 90 days, the company itself will buy the property at a valuation of 96 percent. In case no buyers turn up in 90 days, Nested provides interest-free loan, so that homebuyers can buy their new property. This pioneering system has completely eliminated the need for long waits to sell an existing property and to get the money to buy a new home.
Nested was launched in early 2016 and since then, it has been a huge hit with homebuyers. The idea for Nested came to Matt Robinson (Cofounder and CEO), when he noticed that cash deals were more readily accepted in comparison to mortgage deals when buying and selling properties. Matt tried to find an alternative, but since there was none available at that time, he decided to launch his own property tech startup Nested. The company caters to the requirements of all types of property deals, but it is most appropriate for people who don’t want to wait to sell their existing homes.
Nested is a well-funded company, having received investments worth £45.2 million through 4 rounds of funding. Top investors include Picus Capital, Global Founders Capital, and Passion Capital. Various leading European entrepreneurs have also made investments in Nested. The company has plans to grow further in the UK property market and aims to put an end to the problematic system of property chains and gazumping.