Home-buying platform Lintil secures funding from Enterprise Ireland to accelerate plans to enter the UK property market
Ambitious Ireland-born proptech startup Lintil (which is seeking to streamline and simplify the home-buying journey) has, today announced it has raised €250,000 to help power the company’s plans for UK expansion. As part of its international rollout, Lintil aims to help simplify the property purchasing process for home buyers across Ireland and more recently, the UK. Lintil is a free-to-use online platform that guides home-buyers through the home-buying journey and introduces them to the service providers they need along the way.
This funding follows the official launch of the company in July and coincides with successful partnerships with daft.ie and FBD. Having helped more than 5,000 Irish home buyers through the process of one of the largest purchases of their lives, Lintil secured funding from Enterprise Ireland as part of its High Potential Startup (HPSU) programme, which is aimed at helping Irish companies scale internationally.
Lintil offers users a virtual assistant which guides them through each step of the property-purchasing process. It enables prospective buyers to book the best value house hunting services in the market including: mortgage brokers, solicitors, insurance companies, property surveyors and many more. Home buyers can also track the progress of their journey, and avail of an umbrella of useful tools and expert information through a few simple taps on their smartphone.
It’s unique software incorporates AI, chatbots and proprietary decision making algorithms to ensure prospective buyers are provided with everything they need, when they need it. Lintil predicts the entire home-buying transaction is set to change dramatically over the course of the next few years, as millennials and Gen Z’s adjust their buyer behaviour.
The UK’s Office for National Statistics reports that the average house price in England rose by 7% in the year to July 2021, with the average cost now at €316,000. In addition to this, Statista research reveals that while the number of UK first-time buyers decreased during 2020, the market picked up in the second half of the year, peaking at just over 304,000. In Ireland, the Q3 sales report from Daft.ie showed that the average list price rose by 1% in the third quarter of 2021, the fifth consecutive quarter of growth.
Commenting on the company’s latest funding round, Lintil Co-Founder and CEO Emmet Creighton said: “This funding marks a significant milestone for Lintil, as we continue our journey to make the home-buying process easier for all. We are delighted to have Enterprise Ireland to support us as we plan our international expansion. We’ve had an incredible few months since we initially launched, assisting more than 5,000 users in Ireland alone. Our concept is based around the entire digitization of the property purchasing process, making it easier for homebuyers to secure and purchase the property of their dreams.”
Speaking about its participation in the round, Niall McEvoy, Manager of Enterprise Ireland’s High Potential Start-Up unit said, “Enterprise Ireland is proud to back Emmet and his team at Lintil. Lintil has ambitious plans to internationally scale its offering and its entry into the UK market is an important milestone. Lintil is one of a number of innovation-driven Irish companies that are making a real impact domestically and internationally and we look forward to working closely with the company to support the execution of the business plan.”
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