SIR LEN BLAVATNIK Proptech Venture 'OpenDoor' Raises £1bn Equity (£2bn Credit) With Softbank Fund

OpenDoor, the online real estate marketplace which is simplifying the way people buy and sell homes in the US, announced £308m investment from SoftBank Vision Fund, bringing total fund raised to-date £1bn equity 2bn credit. Sir Blavatnik, UK's 3rd wealthiest person, with an estimated net worth of £13bn was recently knighted for his major philanthropic work.

" We’re thrilled to partner with SoftBank - they are visionaries with the ambition to transform entire industries,” said Eric Wu, Founder and CEO of Opendoor. “SoftBank understands the traditional process of buying and selling a home is a very complicated, uncertain, and stressful for millions of people, and that Opendoor radically improves the experience. We’re excited to widen our ambitions as we launch new products, expand our services, and build an end-to-end experience for millions of people moving each year."

Since its founding in 2014, Opendoor has reinvented traditional home buying and selling to make it online, instant, and stress-free. For home selling, rather than deal with the hassle and uncertainty of the traditional process that can take up to 90 days and have a 10 percent chance of falling through, Opendoor customers receive an online offer within 24 hours and sell with comple