Here’s an exclusive look at the pitch deck that property-tech startup Ownwell used to raise a $5.75 million seed round from investors like First Round Capital
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Property taxes can be a huge headache for many that own real estate, and property-tech startup Ownwell is aiming to help ease that pain.
The Austin, Texas-based startup helps commercial and residential property owners lower and manage their taxes. Ownwell CEO Colton Pace says the idea behind the startup is to make real estate ownership “more clear and equitable.”
- Ownwell wants to make it easier for real estate owners to lower and manage their property taxes.
- First Round Capital led the startup’s $5.75 million seed round.
- Ownwell currently operates in Texas, California, Washington, Georgia, and Florida.
Pace said the company uses machine learning models comparing a user’s property with others in the area to find people paying more than their fair share in taxes. Ownwell also employs real estate experts in the area to help lower tax bills.
“We believe that regardless of expertise or financial status, everyone should have access to the information, tools, and resources to manage their property taxes like a professional,” he said in an emailed statement.
Ownwell recently closed on a $5.75 million seed round led by First Round Capital, with other investors like Wonder Ventures, the Founder Collective, Long Journey Ventures, and Scott Banister, a former PayPal board member.
Pace said the company “handles the entire process of appealing on behalf of property owners and charges the lowest fees currently on the market.”
This means users get savings estimates on their property based on sales data in their area. And if similar homes pay lower taxes, the information can be used to build a case if the owner protests the property tax assessment. The company said that around nine out of 10 protests on its platform are successful, with an average savings of $1,457.
Ownwell currently operates in Texas, California, Washington, Georgia, and Florida, but plans to extend its geographical reach. Its most recent fundraise would ramp up hiring on its product, engineering, sales, operations, customer success, and real estate teams.
Here’s an exclusive look at the pitch deck that Ownwell used to convince investors like First Round to invest in its seed round: