SoloPro, the real estate service which unbundles the procedure and provides a 3% rebate to the users buying home from them has raised a strategic investment from home improvement brand Lowe’s venture arm. None of the companies involved disclosed the amount, however, it’s pretty clear that the amount is nothing big considering the latest funding round at $1.1 Million for Solopro. The Raleigh-Durham based firm is currently testing the product in selected markets.
SoloPro works in a different way as compared to other traditional real estate firms. The best thing about the service is the transparency and the user needs to pay for only the service he uses. For example, if someone needs an agent to show him a house, the charges vary from $0 to $30 right now. There are many more services like house consulting, valuation, agreement etc.
This investment by Lowe’s is a huge win for SoloPro and for our homebuyers,” said Tommy Sowers, CEO and Founder of SoloPro, in a statement today. “This strategic investment by Lowe’s gives us a longer runway. Lowe’s investment also signals strong interest from the leader of DIY home improvement with connecting with DIY home buyers.