BidX1, a digital real estate marketplace used by private equity firms and property fund managers is expanding its platform globally.

BidX1 said it is launching into Cyprus and Spain, with a “wider global ambition” for the future of the company.

The company now expects to have properties for sale in Ireland, the UK, Spain, Cyprus and South Africa, as the global digital marketplace takes off.

It also has further plans to expand into additional markets in 2020, including Portugal, Greece and Italy.

With a customer base which includes private equity firms, banks, property fund managers, property companies and private sellers, BidX1 said it expects to sell 2,000 properties globally worth €450m in total in 2019. In 2018 the platform saw a total value of €300m.

Stephen McCarthy, founder and CEO at BidX1, said: “The launch of BidX1 as a global digital marketplace for real estate, penetrating five markets, marks a pivotal point in property trading.

“With around €200m of real estate assets to be sold around the globe between now and Christmas, we are seeing first-hand the power of our digital platform and best-in-class real estate team.”

Johnny Horgan, managing director of Europe, said: “The opportunities globally for a digital platform are immense, as both buyers and sellers alike are looking for an alternative to the traditional transaction model and BidX1 has the opportunity to be at the forefront of that change globally as digital transformation in real estate continues to overhaul the industry.”