UAE proptech firm Nomad Homes bags $20M in Series A round

Nomad Homes, a software-enabled marketplace for residential real estate in Europe and the Middle East, has closed a $20 million Series A extension round led by Acrew Capital, a San Francisco-based venture fund.

The round also saw participation from players such as 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, and Knollwood, and several undisclosed hedge funds.

The startup plans to utilise the funding for growth, development of its AI-driven co-pilot for buyers, and the launch of Nomad Homes Private Client.

“Buyers deserve expert representation just like sellers do; having one agent represent both buyers and sellers is just not fair,” said Helen Chen, CEO, Nomad Homes.

Founded in 2019, Nomad Homes is a software-enabled marketplace for residential real estate in Europe and the Middle East (EMEA). It offers a bespoke service for clients buying properties or portfolios worth over $2.72 million, similar to high-end private banking solutions. The service strives to provide expert guidance, custom negotiation strategies, and absolute privacy.

Its buying agent acts as a single point of contact, providing expert advice separate from the selling agent. Buyers also have exclusive access to the collection of off-market properties across Dubai, powered by the company's B2B platform, Nomad Agent. All services are at no additional cost as the standard buying commission is shared with the selling agent, said the company.

The company, which operates in France, Spain, Portugal, and the UAE, has experienced a 24X growth since its last fundraise.