Global law firm Ashurst has advised proptech company Downsizer on its A$3.75 million seed capital raise. Downsizer assists the finance, property and insurance industries to deliver digital solutions to people wanting to downsize their home.
The seed capital raise will enable Downsizer to continue to grow in the Australian market, while driving international expansion of its SaaS platform operating at the intersections of fintech, insurtech and proptech.
The round was led by Correlation Australia Holdings, who are affiliated with Lombard insurance group, as investors and business partners to Downsizer. Correlation is a provider of surety bonds and guarantees with operations in South Africa, the UK/Europe, and Australia.
Ashurst Partner Stuart Dullard commented:
"We're proud to have advised Downsizer in its latest seed capital raise. The funding represents a new chapter for the proptech industry in Australia and we're excited to see how Downsizer will transform this space."
The Ashurst team was led by Partner Stuart Dullard and Counsel Jason Maletic (Corporate Transactions).
