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Andrew Bogut-backed proptech kicks off funding round

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Online real estate marketplace Listing Loop – co-founded by an entrepreneur who sold his previous proptech to Carsales.com and backed by basketballer Andrew Bogut – is on the hunt for a strategic investor.

Listing Loop brand ambassador and basketball star Andrew Bogut.  

Street Talk understands the company has been meeting family offices, proptech investors and venture capital firms over the past few weeks as it hunts for growth equity.

The company has created an online marketplace for off-market property listings, sales by vendors for example that want more privacy or don't want to fork out for marketing costs. Properties are listed for free on Listing Loop but a fee of 0.22 per cent is charged if a deal sells through the platform.

Melbourne-based microcap corporate advisory LP7 was on board to assist with the raising and would co-invest in the round.

Listing Loop was looking for $2.5 million and the offer was priced at $1 a share, according to a pitch deck that's been in front of potential investors and seen by this column.

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The company was looking for a strategic investor and if the right partner was found Listing Loop would be open to the investor joining its board.

The proptech start-up counts Aussie basketball star Andrew Bogut as an investor and brand ambassador, he first tipped money into the company towards the end of 2019.

Listing Loop was co-founded by Mornington Peninsula-based tech entrepreneur Rhett Dallwitz, who sold his previous real estate website to Carsales.com in 2009 and subsequently worked at the ASX listed company.

He's supported by a board that includes former Carsales commercial director Anthony Saines and First National Real Estate chief executive Ray Ellis.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com

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