PROPTECH-X ‘Proptech & Property News’: Offr celebrates 30,000 offers through its platform | VeriFast secures funding for AI-powered tenant verification

Andrew Stanton’s daily proptech & property news in association with Estate Agent Networking

Offr celebrates the 30,000th offer made through its revolutionary digital platform

Delivering the world’s fastest and most trusted way of transacting property sales, Offr is a risk-free process for agents, taking lots of leg work out of what can be a tense and time-consuming process. All offers submitted must be fully qualified (with information on funding details, buyer position, proof of funds, AML checks and ID verification), before the submit button is hit.

Customers include well known international estate agency brands such as Knight Frank, Cushman & Wakefield, Savills, as well as Irish firms including Lisney, Sherry FitzGerald, CBRE, and Quillsen, alongside a myriad of independent firms.

Offr has commercial partnerships with DocuSign; Oooba, the largest mortgage provider in South Africa; Onate, an alternative mortgage provider in Ireland; and Thirdfort, a fast-scaling provider of Identity as a Service, and Anti-Money Laundering checks in the UK.

Philip Farrell, CCO & Co-Founder of Offr, commented: “We were delighted with our success and reaching the 30,000th offer – this is a significant milestone for Offr, despite the tough economic conditions and the slowing property market.

“Offr’s success to date is testament to its innovative technology and the transparency the platform provides vendors. The Offr button sits seamlessly on an agency’s website, so buyers can make an offer on a property with just a few taps, while vendors and agents have total transparency over the latest offers. This puts an end to the manual and time-consuming process and cuts sales times by up to 50%.

“Our recent research shows that over 50% of respondents said they had no trust or faith in the property buying process.”

“Our recent research shows that over 50% of respondents said they had no trust or faith in the property buying process. Though the majority of agents are doing their best to pull a deal together, there is mistrust amongst buyers. Often agents will say they have other offers, or someone has come through with a much higher offer. People are pulling out of deals because they don’t trust the process and not because, for example, the deal was too expensive.

‘Offr’s technology enables estate agents to track the progress of a sale or lease on their mobile device or laptop, in real-time. There are instant alerts when an offer is received; if there is an upcoming viewing; or if legal documents have been updated.”

Offr has two offices in London and Dublin. All the technology has been designed and developed in-house, with no outsourcing. Offr provides a range of digital alternatives to all possible transaction types: Private Treaty, Auction, Tender, New Homes, Commercial Sales, Residential Lettings, Commercial Leases.

US NEWS: Financial Verification Platform VeriFast Completes $3.5m Seed Funding Round Led by M3 Financial Group to Accelerate Expansion into Mortgage Underwriting

PRESS RELEASE: VeriFast, the AI-powered Verification-as-a-Service platform that automates financial analysis and decision making for tenant screening, mortgage underwriting, and other verticals, today announced that it has secured an initial funding round led by M3 Financial Group and noted real estate investor and HGTV star Scott McGillivrayMichael Sarracini of Keyspire, and “Millionaire Mom” investor Susan White Livermore.

VeriFast Co-Founder Tim Ray said, “Efficiently collecting and analyzing financial data is at the core of every business that requires underwriting approval of new customers. Our platform offers clients transparency with faster decisioning integrated into their existing workflows. VeriFast has multiple partnerships with leading proptech platforms in the U.S. and Canada to automate financial and KYC-ID verifications. We are also experiencing rapid solution adoption with mortgage lenders who want to digitize and streamline their pre-approval and underwriting processes, shaving labor costs and compressing approval cycles by up to 90%.”

VeriFast provides a single-source configurable API that empowers companies to seamlessly integrate biometric identity verification, banking data, payroll insights and tax transcript data to their existing process flows. The platform analyzes applicants’ real-time financial health via their digital banking data with advanced AI to verify their identity, income, assets, employment, past rent/mortgage payments, bill payments, ability to pay and other critical screening data points far beyond traditional credit checks. VeriFast securely automates the end-to-end verification process compressing rental and mortgage application processes from hours/days to minutes, at a fraction of the cost.

“VeriFast removes the guesswork from tenant screening and provides a non-biased, transparent view of an applicant’s full financial profile.”

Sarracini said, “VeriFast removes the guesswork from tenant screening and provides a non-biased, transparent view of an applicant’s full financial profile. This is a critical gap in the existing real estate market. VeriFast has a proven technology that solves an industry-wide problem that literally every property owner and manager faces.”

“Entrepreneurs at heart, we’re excited by VeriFast’s deep talent, technology and tenacity to move this industry forward,” said Michael Beckette, President, M3 Ventures. “Brokers and lenders across the ecosystem will benefit greatly by the platform’s transactional speed and easy integration to bundle and cross reference multiple borrower data. In this business, it’s always faster, easier and better to confirm information directly from the source. VeriFast enables brokers and lenders to do just that quickly and easily.”

Proptech and Property News in association with Estate Agent Networking.

Andrew Stanton is the founder and CEO of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder and editor of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.

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