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Seattle-based software company Finaya has acquired Nexme, a consumer-facing, on-demand home tour and sales collaboration solution it intends to roll into a “super app” capable of home search and transaction management, it was announced Tuesday.
The mobile solution merges home shopping with mortgage, insurance, title search and escrow management to offer a comprehensive home transaction experience, according to the announcement. It also enables buyers to get mortgage pre-qualified and offers an at-closing buyer refund incentive. It will become available nationwide in mid-2024.
Nexme’s co-founders, Arian Abdulkader and Vanessa Alvarez, will join Finaya’s leadership team, according to the announcement.
“At Finaya, we believe in leveraging AI technology to harmonize the way customers experience homeownership, ushering in capabilities such as affordable home search, dynamic agent commissions, and transparency of end-to-end transactions”, Finaya CEO Naren Nath said in a statement. “At the same time, we are empowering real estate agents, loan officers and other service professionals with unprecedented access to in-market customers, resources and expertise, revolutionizing the industry in the process.”
In addition to creating ways to digitally flatten each step of the home buying process, Finaya will market itself as an education source for aspiring buyers, a tactic to further attract consumers to its mobile-first platform. That content will offer mortgage brokers, lenders and fintech service providers an avenue through which to sell services.
The company will offer a private-label product for industry professionals and also encourage home builders to market new and pre-sale homes on its system.
“By harnessing cutting-edge AI/LLM technologies, Finaya plans to aggregate and analyze vast amounts of data to automate home and loan selection, recommend optimal pricing structures, and generate personalized content,” the company stated.
The company is aiming square at the frustrated real estate consumer, who, like many industry practitioners, are unsure of what it costs to buy a home today, or who should pay who. The vagaries are a result of a number of consumer-initiated lawsuits and their resulting, industry-affecting settlement.
“We’ve simplified the home buying process for buyers, eliminating downtime. Tour as many homes as you want, in real-time. Save thousands of dollars in agent fees,” Nexme’s current website touts.
As is typical in any industry, cracks in traditional workflows become the birthplaces of innovation, and the number of software companies looking to fill those spaces will continue to grow.
