Toronto’s Perch has raised a $1 million seed funding round from Second Century Ventures (SCV) and has been accepted into their 2022 REACH Canada growth accelerator.
SCV is the strategic investment arm of the National Association of Realtors® (NAR) and is the most active global venture fund in real estate technology with more than 150 portfolio companies.
SCV’s award-winning REACH program helps high growth-potential companies scale across the real estate, financial services, banking, home services and insurance industries.
Created in 2018, Perch provides personalized financial insights that optimize a buyer’s path to homeownership.
Perch offers a platform that enables greater collaboration with real estate professionals and streamlines the user’s mortgage application experience. Once a homeowner, proprietary analytics allow users to know when to leverage their home equity to build wealth.
“Canadians consider housing affordability to be a major problem and we’re offering a solution that helps simplify the path to home ownership,” said Perch founder Alex Leduc.
“We built Perch to give users clear financial insights, without needing to build their own complex spreadsheets. Along the way, they’re fully supported with a dedicated mortgage advisor to help them strategize and understand the numbers.”
With its global presence, REACH offers Perch a unique opportunity to scale operations and better collaborate with real estate agents. Looking ahead, Perch plans to leverage the REACH program to grow its team and continue investing in its analytics platform to build additional tools to help home buyers and homeowners.
“As we focus on scaling operations and growing our user base, we are doubling down on real estate agent and brokerage partnerships by building out a dedicated agent portal as an extension of our site that enables REALTORS® to turn more leads into buyers, close deals more effectively and nurture their existing client base for repeat business. We are thrilled to have the support of Second Century Ventures and to be selected into their 2022 REACH Canada cohort,” added Leduc.
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