Home buying and fintech platform OneDome has reported a 394% increase in revenue to £15.3m in Q1 compared to the same period last year, driven by the expansion of its national broker network.
By March, due to accelerated sales growth, the company was on track to generate about $102m, reaching this goal nine months sooner than expected.
Earlier this month, the company committed to £5m of growth funding for the broker members of its subsidiary, Mortgage Intelligence, which it bought in November last year. Its Growth Accelerator initiative aims to help brokers scale up through funding, incentives and direct support.
Further growth strategies include preparations to launch a national TV campaign later this quarter, aimed at accelerating brand awareness and customer acquisition at scale.
OneDome is also expanding its distribution, with plans to add at least 500 brokers to its company over the next 12 months.
Babek Ismayil (pictured), founder and chief executive of OneDome, said: “We are building a new way to buy a home by bringing mortgages, legal, and financial services into one seamless experience. While we are pleased with the progress, we believe we are still at an early stage of a very large opportunity.”
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