Resi brokerage that wants to kill the broker raises $45M in Series C

A startup that aims to cut out traditional residential real estate brokers has raised $45 million in its latest funding round.

REX, or Real Estate Exchange, announced the Series C funding round Tuesday, bringing its total funding to $75 million since it launched in 2015. The Los Angeles-based startup provides a platform, RexHomes, where customers can buy and sell residential property at a flat 2 percent brokerage fee, compared with broker fees on traditional multiple listing service (MLS) platforms, that can range from 4 to 6 percent.