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Australian NBA star Andrew Bogut is taking the money he earned while on the court and is backing a new proptech company.
The 34-year-old has just ranked 32nd on The Australian Financial Review’s Young Rich List with $101 million under his belt.
He has taken an interest in the new off-market property listing service, Listing Loop, which recently rolled its service out across Australia.
As well as an investor, Mr Bogut will be an ambassador of the brand.
His interest in Listing Loop came from his enthusiasm for real estate and being a tech investor after mixing in those circles while in Silicon Valley.
“I enjoy getting in on the ground floor with companies I believe are going places,” he said. “Listing Loop is transforming real estate for the benefit of everyone as it’s the only platform designed for buyers, sellers and agents to all come out on top.”
With an increase in off-market property sales, there is a gap that Listing Loop can fill, Mr Bogut said.
Inner-city area real estate agents have been selling as much as 35 per cent of their residential listings off-market, and that number is expected to grow, Listing Loop CEO Rhett Dallwitz said.
“During our soft launch phase in Melbourne, more than 650 agents have signed up, uploading half a billion dollars worth of property, generating thousands of property leads for agents that have led to sales,” he said.
“Our sights are now set on national expansion.”
The company has also attracted the eyes of other experienced tech and property investors, as the company has raised $3.3 million in its initial capital raise.
To get more people on board, the company has a crowdfunding campaign.
“For as little as $250, people can get in on the ground floor and grow with our business as it grows, reaping financial benefits along the way,” Mr Dallwitz said.
“Some of the world’s biggest companies began with equity crowdfunding and we hope to share a similar success story.”
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