US Power Buying Marketplace Zavvie Raises $3.65 Million

The Colorado-based proptech company Zavvie has announced a $3.65 million funding round led by existing investors including Second Century Ventures, the startup incubator backed by the National Association of Realtors.

The round includes $1.5 million in cash and $2.15 million in convertibles and is the first time the company has raised money since a $1.8 million round in early 2021.

"At zavvie, we believe 2023 will be a breakout year for Power Buying because cash offers will particularly help first-time buyers,” said Lane Hornung, zavvie CEO and Co-Founder.

“New buying and selling solutions became more commonplace than ever in 2022, and smart brokerages know that to compete today — and tomorrow — they must offer consumers all the options while keeping their agents at the center of the transaction for any solution a consumer chooses", said real estate analyst Mike del Prete who will be joined on Zavvie's board by Tyler Thompson, Managing Partner at Second Century Ventures.

Founded in 2015, Zavvie's model is to provide US agents with a marketplace of offers from iBuyers and 'power buyers' for the homes they are helping clients to buy or sell. The company claims to have over 65,000 agents in 47 states on its books and recently integrated services from the likes of Divvy Homes, Feeasy, Homeward and several others onto its white-labelled offer platform.