BidX1 has secured funding from Enterprise Ireland's Agile Innovation Fund on foot of offering a partnership model to other property agents. 

The company says that its platform facilitates end-to-end online property transactions, from listing to exchange of contracts, with minimum disruption for potential purchasers, who can access all of the legal documents online, view properties virtually using video walk-throughs or drone footage, and submit deposits and offers through the platform. The latter is followed by digital contract exchange.

Chief executive Stephen McCarthy  (pictured) said: “Enterprise Ireland’s backing is an important endorsement of our work to date. The opportunity in the European and African property markets is immense, but so is the sophistication required to take advantage of it.

"We have built a multilingual, multi-currency platform, capable of handling the complexities of varying regulatory and legal environments, allowing a global investor base to transact property from wherever they are in the world.

“We already have a number of significant partnerships with estate agencies, notably with Foxtons in the UK and Pam Golding in South Africa. The pandemic has been a watershed moment for many traditional agencies and we’re seeing an increase in demand across all markets.

In Association with

“We would be delighted to partner with agents in Ireland who would like to start making the move online, combining their own expertise with the flexibility, transparency and global reach of our digital platform.”

He added that EI has made available c.€400,000 towards an overall investment of around €1m.

Former BidX1 executive Robert Hoban recently announced that his new venture Offr has raised €4m in funding. Investors include Delta Partners (for Bank of Ireland), Enterprise Ireland, Frontline Ventures, and over 20 private investors from the worlds of property, technology and banking.

Offr says it provides secure and transparent bidding and transaction technology for estate agents. Its other principals are Philip Farrell and Niall Dawson.