Axiom Properties Makes Acquisition for $2 Million

Adelaide real estate development and investment firm Axiom Properties announced the $2 million acquisition to shareholders on June 28, adding that Listsure would be integrated into Axiom’s portfolio “to further leverage its existing and growing popularity in the real estate payment services sector”.

Listsure was founded in 2016 to overcome the marketing cost challenges in the real estate industry by combining finance and insurance.

The company’s “Pay Later” or “Pay on Success” model can be applied to any costs incurred in connection with the sale of a property, including marketing and advertising, property styling and transportation.

The Pay Later option gives customers a payment term of up to six months, while the Pay On Success model gives customers up to 12 months to pay after settlement, with no payment requirement if the property does not sell.

Axiom said key Listsure employees will be retained, including founder and managing director Bradley Melman, and Axiom’s real estate technology CEO Rob Towey will join Listsure’s board.

Ben Laurence, managing director of Axiom, said the company sees the acquisition as “a key part of Axiom’s strategy to make a significant entry into the real estate payments sector.”

“Our goal is to provide our customers with a unique, embeddable payments and lending solution with market-leading service quality,” said Laurence.

Since its inception, Listsure has supported over 8,500 transactions, facilitating over $11.5 billion in real estate sales and providing loans in excess of $37.5 million.

Listsure is projected to achieve revenue of $3 million in fiscal 2025, with earnings before interest and taxes of more than $8 million by year five.

Positive cash flow is expected to begin in the second year and increase to over $18 million by the fifth year.