HouseSimple secures £20m from investors to take on Purplebricks

Carphone Warehouse founder Sir Charles Dunstone is among a group of investors who have ploughed an extra £20m into online agent HouseSimple.

Dunstone is already an investor in the firm through his Freston Ventures private investment vehicle that he runs with business partner Roger Taylor. The pair put in £5m in 2015, and led an investment round last year which chipped in a further £13m.

Toscafund Asset Management, which gave financial backing to the easyProperty rebrand earlier this year, has also added to its existing HouseSimple investment and a number of other unnamed high net worth individuals have contributed.

HouseSimple said the money would help develop the platform and would be used to help challenge Purplebricks’ place as the ‘UK’s leading online agency’.

It comes after EYE reported yesterday that HouseSimple had appointed Rightmove head of lettings Sam Mitchell as its new chief executive to start in the new year, with the incumbent Alex Gosling moving to the role of president.

Gosling said: “This latest funding is not just about capital and marketing investment, it is also sending a clear message of intent from our investors.

“As we move into new, larger offices in Colchester, it will help us continue rapid expansion and make 2018 our best year ever.

“We are focusing on our performance-driven, cost-effective and scaleable online model.

“Whatever we do, our priority will always be on delivering the best results for our customers.”

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6 Comments

  1. ArthurHouse02

    Finally a press release talking about how they will make themselves better and challenge their direct rivals, rather than using it as a way to bash high street estate agents. HouseSimple i wish you all the best.

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  2. Essjaydee51

    I do to, as another form for selling but if you have to keep on asking for money then it can’t be making much or any and then you have to ask if people are chasing their money down a losing road.

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    1. Property Paddy

      says it all “but if you have to keep on asking for money” !!!!!

       

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  3. P-Daddy

    It will be interesting to see how this one plays out. Dunston has shown how to leverage tech and has an understanding of virtual/online/High Street and real shops. He has call centre know how and can migrate those techniques and of course anyone with experience of TalkTalk will know they can be thick skinned when criticised over poor service standards and pricing anomalies. He has all the skills for a call centre estate agency!! 🙂 This might be a real threat to the big names like PB and may accelerate the demise of others like Tepilo and number of others.

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  4. Property Peep

    Double or quits …..

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  5. AgentV

    Customers? Shouldn’t that be clients?

     

     

     

     

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