SOUTH AFRICA – Roundr, a prop-tech startup, has raised further funding from the UK-based investment firm i7V to see it through its current beta phase and help it move to market by the end of the year.
Having self-funded itself initially as it built a basic minimum viable product (MVP) and obtained some traction, Roundr was picked up by the Scotland-based i7V, which has now made its fourth investment in the startup. This latest undisclosed capital injection means the firm has now invested a total of ZAR4.5 million (US$270,000) in Roundr.
The Cape Town-based company will use the funding to complete its ongoing beta stage and move towards a full market launch by the end of 2020. It also plans to take on more funding at a later stage.
“We are very happy to have i7V continue to walk this journey with us. Their support enables us to move towards achieving our mutual goals for Roundr,” said the startup’s founder and chief executive officer (CEO) Jansen Myburgh.
“We opted for a smaller amount at this point in time as we are closing in on a significant milestone which should have a positive influence on our base valuation once achieved. We are closing in on our first subscriptions, and as a scalable SaaS we see this as a big milestone.”
Launched in September 2017 by chief executive Jansen Myburgh and head of communications Daisy Myburgh, Roundr developed a mobile app that links agents to one another and to their clients in real-time, allowing for simple scheduling, networking and recordkeeping.
The Roundr app takes estate agent’s work onto their smart devices, offering an organised and easy way to work on mandates, schedule viewings, interact with clients and other agents, and even collaborate on sales.
The first half of 2020 has seen some interesting developments for Roundr, with the notably pre-revenue business being selected as a top 30 finalist in the prestigious Grindstone Accelerator programme from a field of hundreds of promising post-revenue entrants.
Myburgh says it was a great experience being interviewed and quizzed by such knowledgeable industry professionals and adds that they aim to take part again in next year’s programme.
On the IP front, the doors are now wide open for Roundr to secure comprehensive IP protection after the international patent office found the concept to be novel.
Myburgh says that this ties in nicely with the business’ future global distribution goals.
Also on the cards is a collaboration between Roundr and Ooba Homeloans which will see the launch of an exciting new industry-first platform within the property sales space.
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