REA Group acquires fintech CampaignAgent

REA Group has said it will fully acquire fintech CampaignAgent, in a move it believes will remove friction for its customers and potential vendors during the sale of properties.

The group had an existing 27 percent stake in the fintech, bought for $13.3 million in 2021, and has also invested in other fintechs as well.

Headquartered in Victoria, CampaignAgent offers to fund the costs of vendor paid advertising (VPA campaigns for property sales, and to recoup the money post-sale.

In Australia, the costs of a sale signboard, advertising and listings in media is usually borne by the seller of the property.

REA Group said on Tuesday the full purchase of the fintech marks its commitment to assisting its customers and potential vendors by removing friction from the property selling process.

REA Group chief executive Owen Wilson said CampaignAgent's approach aligns with its own strategy.

“Since our initial investment in 2021, we have supported the growth and development of CampaignAgent,” Wilson said.

“Its products enhance the seller experience by removing friction and delivering flexibility to accommodate a wide range of vendor preferences.

“This benefits both our customers and consumers and helps make the real estate market more efficient.”

He added REA Group sees “a significant opportunity to increase awareness of CampaignAgent’s innovative solutions and to deliver further financing options for the property sale process.”