Nobul Corporation Successfully Raises US$40 Million of Capital to Support Continued Growth
TORONTO, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Nobul Corporation ("Nobul") is announcing that it has successfully closed an additional US$40 million of outside capital to support continued growth in both Canada and the United States. The most recently closed round was led by highly respected hedge fund manager K2 & Associates Investment Management Inc., with participation from significant US VCs. Nobul would also like to thank the team from Canaccord Genuity, who also led the most recent round.
After the Founder and CEO, Regan McGee, personally invested several million dollars and financed the company in its early years, Nobul has successfully raised significant additional capital. The company remains debt-free and has positioned itself well for continued growth and success.
The company has already seen substantial year over year growth, with more than US$3.5 Billion of sales and millions of dollars in savings to its customers. Given its growth and success to date, Nobul has attracted the attention of several Nasdaq listed SPACs.
"We are seeing a huge increase in the use of our platform as we are witnessing industry-wide acceptance of new technologies. Prospective homebuyers are also looking for a competitive advantage in finding their dream homes - finding the right agent is an essential part of that," said McGee.
The monies raised will continue to be used to further grow the business and expand into new territories in the United States and Canada. As part of its expansion, Nobul plans to also provide its customers with mortgages and insurance on its marketplace, thereby also creating additional revenue streams for the company.
"We will continue to focus on profitability and growth - that's the plan. A key element for any business venture is the ability to fill a gap and we do this every day for our consumers. As a consumer centric marketplace, we bring transparency, choice, accountability, and simplicity to the entire real estate process. We truly help people with the biggest transactions of their lives. When you wake up every morning with the mission of helping people, and you're revolutionizing an industry worth trillions, the future is bright."
About Nobul Corporation
Nobul is the world's first and only open, dynamic digital marketplace where Real Estate Agents compete for buyers and sellers of Real Estate. Nobul is a disruptive Property Technology company that is revolutionizing the real estate industry by offering a digital solution that addresses common challenges faced by consumers looking to buy or sell a property. A wide range of customers use Nobul, from first-time homebuyers to those wanting to relocate, by taking advantage of the newfound flexibility of working remotely. Nobul continues to successfully operate in more and more markets across Canada and the U.S., with transactions closing on the marketplace in over 100 markets.
About K2 & Associates Investment Management
K2 is a hedge fund manager with a 20-year track record of successfully managing money and creating value for its shareholders and stakeholders at large. The dedicated team of investment professionals and risk managers have a broad skill set and maintain strong relationships with domain experts across many industries.
For more information about K2, please visit www.K2.ca.
For further information please contact:
Lisa Coulman, CFO
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