Land sourcing platform Searchland secures £2.3m funding
London-based Searchland has received £2.3m in seed capital from Fuel Ventures for its platform used by property developers to find suitable land to build on.
Searchland’s software gives property developers the ability to search by criteria including land type, land ownership, past property sales, average price per square foot and planning application analysis.
Searchland was co-founded by Mitchell Fasanya, Hugh Gibbs, Arthur Goodhart and Archie Kennedy-Dyson in 2020.
Mitchell Fasanya, co-founder and CEO of Searchland, said: “Having tried to find a site of my own to build on, I discovered there was very considerable friction in the land sourcing process.
“The property industry is rich in data but it wasn’t being leveraged effectively and developers were having to trawl through a myriad of clunky databases to track down the information they needed.”
Fuel Venture’s seed funding will be used by Searchland to add more datasets and increase automation in its land locating service.
Users of the analysis software include property and construction businesses Places for People, Galliford Try and Aster Group.
“Ultimately we want to offload all of the admin heavy tasks for developers so they can focus on what they do best – building homes. This funding round will allow us to accelerate product development and advance further ahead of the competition,” added Fasanya.
Last year it took part in the HM Land Registry and Ordnance Survey-supported Geovation Accelerator Programme, which gives proptech startups grant funding and 12 months of support.