FNZ-backed ‘off-market homes’ proptech sees agents as ‘logical partners’

A new proptech platform that is building online property profiles for the UK’s 28m residential properties so owners and potential buyers can identify off-market opportunities has said it is open to working closely with estate agents.

Nokkel lets buyers use its app to search a large pool of off-market properties and receive alerts when their favourite properties come onto the market.

Buyers can also expresss interest and chat directly with willing owners.

Homeowners can also customise their property’s profile.

A spokesperson for the proptech firm told Estate Agent Today: “Nokkel will consider partnering with agents, and other professionals and institutions that can help consumers with their property.

“Whether that’s buying or selling, letting out or simply taking some of their property equity (or savings) out. 

“Estate agents would be logical partners, along with conveyancing and similar. If a Nokkel user decides they want to sell their home, then they may require an estate agent – we can help make this connection.”

It comes as Nokkel received Series A investment from wealth management platform FNZ.

A statement from both companies said that by integrating Nokkel data into FNZ’s platforms, financial institutions can offer customers “a more holistic view of their entire asset portfolio – providing a wider range of people with a deeper understanding of their entire net worth.”

Roland Whyte, chief executive of Nokkel, said: “Decisions around our homes, whether about buying, selling or how we live in them, have a huge impact not only on our finances but on all aspects of our lives. 

“Yet the property market doesn’t make it easy for us. It’s illiquid, expensive, opaque, and slow – and it quite simply doesn’t serve its users. At Nokkel we want to do all we can to improve the experience.
 
“Partnering with FNZ as its exclusive provider of property solutions is a vital step on that journey. One which will enable us to create new solutions, supercharge our growth and, ultimately, help more buyers and property owners to realise their property dreams.”

Nokkel will use the funds to grow its team and invest in its platform.

Adrian Durham, founder of FNZ, added: “Property is a natural extension of FNZ’s holistic approach to providing wealth solutions to financial institutions across the full wealth management spectrum. For many of us, our home is our most valuable asset – and one of the only assets where we can influence its value – and it shouldn’t be a portfolio afterthought.

“By investing in Nokkel we want to provide greater control and transparency over this asset – in line with what we have over our bank accounts, investments, and pensions. The aim is to enable our customers to better capture this asset class allowing them to deliver personalized financial advice and a set of solutions to as many people as possible, furthering our mission of opening up wealth.”

Nokkel was unable to divulge exact data on app users.

A spokesperson said: “Nokkel’s user base is growing, which we expect to accelerate with FNZ partnership. FNZ’s platform has circa 20m users globally.”