Investors
The product is built. Distribution is the bet.
South African property search is dominated by incumbents who optimised for seller revenue, not buyer outcomes. Yagr is a different model: honest search, one flat price, no paid placement. It is built, deployed, and engineered to scale.
We are pre-launch and pre-revenue. The technology is done; what is unproven is go-to-market. That is deliberately the risk we are raising to retire, and we are upfront about it on this page.
What exists today
A full platform, not a prototype.
Listings are free for another 320 days (through 31 May 2027), then R250 per month while live. That gives us room to prove supply before billing starts.
- Consumer search and listing platform deployed and running in South Africa
- Plain-language search, personal hunts, and co-buyer shortlists
- Listing management, enquiries, and analytics for sellers and agents
- CRM listing-provider path for agents who already syndicate elsewhere
- API and worker infrastructure on managed cloud (GCP), built to scale
Where the risk sits
Technical risk is behind us. Adoption risk is ahead.
Most pre-seed capital is spent getting a product to work. Ours already works and is built to scale, so almost all of the remaining risk, and almost all of the capital, is go-to-market. With no marketing done yet, that risk is real and we won't pretend otherwise. The flip side: there is no technical execution risk left to price.
Why the model works
High margin, cheap to run.
We charge a simple monthly fee per live listing and keep search ranking out of the price list. That keeps the business understandable for sellers and structurally cheap to run as inventory grows.
Flat listing fee
One rate (R250/month while live) for agents and private sellers. No tier maze, no volume cliffs, no paid ranking.
Product-led differentiation
Search quality, feed memory, and transparent property data are the moat, not auctioning placement to the highest bidder.
Low marginal cost per listing
Listings are data. Serving more of them on lean, managed infrastructure costs very little extra.
Lean operations
Small team, managed services, no legacy datacentre. The cost base is people and marketing, not servers.
Unit economics
The number that matters is CAC.
A listing is R250 per month while live. Listings are data, so gross margin per listing is high. Serving one costs almost nothing. Price and margin are not where this business is won or lost.
Gross-margin value per listing
R 735
R 250/mo · ~3 months · ~98% margin
Target 3:1 LTV : CAC
The figure that decides it is customer acquisition cost. To hold that 3:1 ratio we need to win a listing for less than R 245, and proving there is a marketing channel that pays for itself is exactly what this raise funds. Until we have run that experiment any revenue projection is a guess, so we are not putting one on this page.
Illustrative. Listing fee and margin are set; the 3-month average listing life is an estimate that will firm up once listings start to bill.
Use of capital
Runway and go-to-market, not a rebuild.
We are not raising to finish the product. We are raising to fund distribution while listings grow through launch pricing and word of mouth turns into repeatable acquisition.
- Go-to-market: agent outreach, brand, and seller acquisition
- Runway while listings and revenue ramp through the launch free period
- Selective product investment where distribution needs it, not to finish v1
Team
A small team that has shipped the hard part.
Oliver
Co-founder · product & engineering
Built the consumer app, platform, and the scaling infrastructure it runs on.
Marcus
Co-founder · API & platform
Owns the API contract and the data and integration layer behind the product.
Tom
Product manager
Shapes the roadmap and keeps the product pointed at buyer and seller outcomes.
Alexa
Marketing
Leads brand and go-to-market: the channel work this raise is built to fund.
Alex
R&D
Drives research and development on search quality and new product surfaces.
The raise
Pre-seed, and honest about price.
We are raising a pre-seed round to fund go-to-market and runway through the free-listing period. We don't pretend to have a precise valuation. Pre-revenue, with no market data yet, that is a conversation rather than a spreadsheet output.
What we bring to that conversation: a fully built, scalable product, with the technical risk already retired, and a clear-eyed view of the one thing left to prove. We would rather agree a fair price with the right partner than anchor on a number we can't yet defend.
Get in touch
Early conversations welcome.
If you invest in marketplaces, proptech, or South African consumer internet, we would like to hear from you. We are a small team and we respond to serious enquiries.
Disclaimer
This page is for general information only. It is not an offer to sell or a solicitation to buy securities. Any forward-looking statements are indicative and subject to change. Fermain Pty Ltd, trading as Yagr.