TORONTO, July 13, 2023 (GLOBE NEWSWIRE) — Souqh, Canada’s pioneering real estate and home services marketplace, is raising capital through a strategic funding campaign on FrontFundr. The campaign, aimed at fueling the company’s growth and innovation in simplifying the homeownership journey for Canadians, has garnered tremendous support so far from investors who recognized Souqh’s potential to revolutionize the fragmented real estate and home services industry.
Souqh’s FrontFundr campaign (https://www.frontfundr.com/souqh) provides a unique opportunity for investors to join the company’s mission of streamlining the entire homeownership journey through its innovative marketplace platform. By connecting and collaborating with a diverse range of real estate and home services professionals, Souqh empowers users to transact seamlessly within a centralized hub, eliminating the complexities of traditional processes.
“We invite investors to join us in our mission to simplify the homeownership journey for Canadians,” said Ahmer Rafiq, CEO of Souqh. “With the support of our investors, we are confident in our ability to modernize the real estate and home services landscape, leveraging our new marketplace platform. This funding round is a testament to our disruptive potential and the value we bring to both consumers and service providers.”
Souqh’s commitment to disrupting the industry has been recognized by prominent publications such as Yahoo, DMZ, Founders Press, and Founders Beta. The company has achieved significant milestones, including onboarding over 3,000 service providers on its marketplace across Ontario, reaching $100k in annual recurring revenue (ARR) within its first year, and establishing strategic partnerships with industry leaders like Mississauga Real Estate Board, Sotheby’s, and Prepare for Canada. They raised $700k in pre-seed capital in 2021 and are now looking to grow with their seed round.
Moreover, Souqh’s participation in the DMZ PropTech incubator stream, a top global university-based technology accelerator in partnership with Groundbreak Ventures, further solidifies its position as an industry innovator. The company has experienced remarkable growth, increasing its marketplace traffic 25-fold to over 25,000 monthly visits and facilitating more than 2,000 transactions in under 12 months, demonstrating a verified product-market fit.
“Souqh has garnered significant traction in a short period, making impressive strides in its journey,” said Peter-Paul Van Hoeken, CEO at FrontFundr. “As Canada’s first real estate and home services marketplace, Souqh has the potential to transform the way homeowners and service providers connect and collaborate. We are thrilled to be bringing this exciting funding opportunity to all Canadians.”
The funds raised on FrontFundr will enable Souqh to further enhance its platform and expand its service offerings, providing unparalleled client experiences for home buyers/owners and comprehensive technology and marketing solutions for service providers. By leveraging digitalization and collaboration, Souqh aims to eliminate the stress and fragmentation prevalent in the real estate and home services industry, creating a centralized hub for homeownership journeys.
Details of the offering can be found in the offering document at www.frontfundr.com/souqh. This communication is for informational purposes only.
Souqh is Canada’s pioneering real estate and home services marketplace, connecting homeowners and service providers through its end-to-end digital services ecosystem. By streamlining collaboration and leveraging existing technology solutions, Souqh simplifies the homeownership journey while providing unparalleled customer experiences. Souqh is committed to building a transparent and inclusive community, valuing relationships, opportunities, and trust.
FrontFundr is a leading investment platform that empowers individuals to invest in groundbreaking ventures, democratizing investment opportunities. Through its platform, FrontFundr aims to revolutionize traditional fundraising models and foster a more inclusive investment ecosystem. By providing individuals with the chance to invest in companies like Souqh, FrontFundr is at the forefront of shaping the future of investing.
For media inquiries, please contact:
Director of Campaign Strategy
FrontFundr Financial Services
+1 (604) 910-5074