Sonarhome

Sonarhome is a property technology company operating in the Central and Eastern European real estate markets, including Poland, Hungary, and Romania. The company was founded in 2017, with some sources indicating a 2018 or 2019 launch, by Mateusz Romanowski, a serial entrepreneur, and Piotr Chmolowski. Romanowski, a graduate of the Warsaw School of Economics and Rotterdam School of Management, previously founded the fashion marketplace Allani, which was acquired by Wirtualna Polska, and served as VP of Growth at Brainly. His experience in purchasing his first home in Warsaw highlighted the need for technological advancements in the real estate sector, leading to the creation of Sonarhome.

The firm's core business revolves around streamlining the process of buying and selling residential properties. It provides homeowners with a free, automated property valuation tool that uses machine learning algorithms to analyze extensive market data, including hundreds of thousands of property listings and transaction prices. This service delivers an instant property value estimate and a detailed report to the user. Beyond valuations, Sonarhome connects homeowners looking to sell with local real estate agents, aiming to facilitate faster and more efficient transactions. The company earns revenue by acting as a digital broker and through its iBuying service.

A key component of Sonarhome's business model was the introduction of iBuying to the Polish market, where the company directly purchases properties from sellers for cash at a market-based price. This model is designed to significantly shorten the sales process from months to just a few days or weeks. After purchasing a property, Sonarhome undertakes light refurbishments before selling it on the open market. The company has secured significant funding to support its operations and expansion. In 2019, it raised funds in a pre-seed round and through venture debt, totaling approximately 8 million PLN. A major Series A funding round in June 2021, led by Market One Capital and Kogito Ventures, brought in $6.6 million (€5.6 million or 25 million PLN). This capital was allocated to further develop its valuation technology, scale its iBuying and brokerage operations, and expand into other European cities like Budapest and Bucharest.

Keywords: real estate technology, proptech, property valuation, iBuying, digital brokerage, real estate marketplace, home selling, property data, machine learning, residential real estate, Central and Eastern Europe, Poland real estate, Hungary real estate, Romania real estate, home value estimator, cash offers for homes, real estate analytics, Mateusz Romanowski, property investment, real estate transactions