Joinery
Apartment seekers find their next home from an outgoing renter instead of a broker.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 136 % | 10 % | - | 8 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Joinery, formerly known as Nestie, operated as a venture-backed property technology firm with a mission to streamline the apartment rental process in major cities like New York. The company was founded by Vianney Brandicourt and Saman Farid, officially launching in 2016 to address inefficiencies in the rental market. Brandicourt, who served as CEO, brought a data-centric product background from his time at Google, Spotify, and Foursquare. This experience shaped Joinery's core product: a peer-to-peer online marketplace designed to connect outgoing tenants directly with incoming apartment seekers.
The business model centered on disintermediating traditional real estate brokers. By creating a platform for direct communication, Joinery aimed to eliminate broker fees, which could be substantial in markets like NYC. The service was designed to make leasing more affordable for renters and more efficient for landlords. The platform facilitated the entire discovery and connection process, allowing departing tenants to list their apartments and prospective renters to find a home through someone with firsthand experience of the property and neighborhood. This approach was intended to create a fairer and more community-oriented rental experience.
Joinery's platform was a direct-to-consumer (B2C) real estate service. It provided a tangible financial benefit to its users, having reportedly helped renters and landlords save over $12 million in brokerage fees throughout its operation. The company successfully raised a Seed Round in September 2015 and participated in an accelerator/incubator program in January 2018. Despite its initial traction and backing from investors like Kima Ventures and GE32, Joinery ceased operations in June 2021.
Keywords: peer-to-peer apartment rental, no-fee rentals NYC, real estate technology, PropTech, rental marketplace, Vianney Brandicourt, tenant-to-tenant handover, lease transfer platform, apartment leasing, New York real estate, broker fee savings, rental disintermediation, online leasing platform, venture-backed startup, Nestie, community-driven rentals, affordable housing solutions, direct-to-consumer real estate, landlord tools, residential leasing