A Ukrainian startup selling new real estate in the US is capturing the market at high speed.   

Ukrainian PropTech startup NewHomesMate, headquartered in Austin, Texas (US), launched a platform for finding and buying new real estate in the US in 2020. The startup was founded by Bohdan Hnatkovskyi and Sofia Vyshnevska. Currently, NewHomesMate has more than 120 employees in Ukraine and the US.

The startup has attracted $6.7M in investment from American and Ukrainian funds. The latest estimate of the company’s value was between $30–40M. In 2022, the business grew by 1,000%, and in 2023 by another 200%.

In the spring of 2024, attracting one customer costs NewHomesMate about $1,800, the average cost of a new home on the platform is $398,000, 5% lower than the US average. The startup receives about 3% commission from each deal. To make a profit, it is necessary to sell 50-60 houses per month, and the startup is already “very close” to this point, Hnatkovsky states.

NewHomesMate’s plan is to move away from the concept of a real estate portal by 2030 and pivot into a full-service provider that accompanies a buyer from choosing a house to moving.