Following news of a second institutional investment, Bamboo Auctions has closed off its funding round, achieving £1.13m on a target of £1.05m.
Management is now putting its attention to growth and scaling Bamboo’s SaaS model, to build on its already impressive monthly revenue of more than £70k.
Led by an outstanding team of strategic industry/tech investors and advisors, including two former directors at Zoopla Property Group and a former CFO for Burberry and CEO of Fitness First, Bamboo Auctions provides disruptive online auction technology to estate agents and auctioneers.
Bamboo’s platform is enabling the UK’s estate agents and auctioneers to operate, control and offer online auctions as a service to their buyers and sellers.
Last year alone, more than 800 properties, with a total value of £110m, were sold on the platform.
The company has signed more than 40 exclusive partnerships and boasts in excess of 600 estate agent branches and auctioneers on its books – including Hunters, Bradleys, Webbers, Clive Emson Auctioneers, Greenslade Taylor Hunt, Perry Bishop, Town and Country Auctioneers, Fisher German, Choices Estate Agents, Killens, Stags, Philip Arnold Auctioneers and more.