Investment in real estate tech platform to support development, marketing initiatives and international growth
TORONTO, Aug. 8, 2018 /PRNewswire/ - Nobul Corporation ("Nobul" or the "Company"), a Canadian real estate technology platform, today announced it has engaged BMO Capital Markets and GMP Securities L.P. for a growth round of private placement funding. This latest infusion of capital will be used to bolster the Company's development and marketing efforts, allowing for significant growth and visibility on an international scale.
Nobul's online real estate marketplace makes the process of buying or selling a home more transparent, personal and simple. Nobul's service platforms—both web and mobile applications—enable consumers to search for and hire the real estate agent whose combined services options, pricing and reputation, best suits their needs, streamlining the real estate journey—from agent selection, to closing—and unifying a historically distributed set of processes with the help of the latest technology.
"We have the opportunity to make a real impact on an industry that has been averse to change for the last century," says Nobul Founder and Chief Executive Officer, Regan McGee. "Nobul is transforming real estate by embracing the full power of digital technology and providing a truly open and transparent marketplace. This latest investment will help Nobul expand into new markets and continue to develop its service offerings for an industry that has traditionally been underserved by technology."
The private placement financing, in addition to Nobul's previous oversubscribed seed round, will support the Company's continued marketing activities within key regions across North America. Additional funding will also allow Nobul to increase product development, with a significant focus on user experience, blockchain capabilities and predictive analytics.
Nobul can currently be found Canada-wide with an initial focus on urban markets across Ontario, Alberta and British Columbia. The Company will be launching in the United States, beginning in Florida, later this month. Nobul plans to continue its expansion across North America through to the end of 2019, with foreign markets coming online in 2020, and beyond.
About Nobul Corporation
Nobul Corporation, Brokerage is a disruptive real estate web and mobile application marketplace that makes the process of buying and selling a home more transparent, personal and simple. Nobul's service platforms—both web and mobile applications—enable consumers to search for and hire the real estate agent whose combined services options, pricing and reputation, best suits their needs, streamlining the real estate process.
This press release contains "forward-looking information" within the meaning of applicable securities laws in Canada. All information contained herein, other than statements of current and historical fact, is forward-looking information. In some cases, forward-looking information can be identified by use of words such as "may", "will", "expect", "estimate", "believe", "plan", "would", "could" and other similar terminology. All of the forward-looking information herein is qualified by this cautionary statement.
Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Nobul at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Nobul identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: economic and financial conditions and growth of the real estate services market, outlook for operations, expected financial results, expectations regarding Nobul's ability to complete the proposed financing, to attract and retain real estate agents as well as prospective home buyers and sellers, as well as Nobul's expectations regarding its growth strategy, timing, completion and scaling of its product offerings.
Inherent in forward-looking information are known and unknown risks, uncertainties and other factors that could cause Nobul's actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects Nobul's current expectations and beliefs regarding future events and operating performance and is based on information currently available to Nobul. The forward-looking information contained in this press release is current as of the date hereof and, except as required under applicable law, Nobul does not undertake to update or revise it to reflect new events or circumstances.