PropertyHeads sold a 3% stake in the company to a handful of private investors. This, and follow-on investment will be used to bankroll a series of major acquisitions and joint ventures to be announced by the property social network, founded in 2018.
Companies House shows that around £100,000 of shares in Propertyheads Group Ltd were allocated at the beginning of August.
The fundraising was led by the founder and CEO of the company, Ben Davis,.
OurProperty was founded in 2003 as a provider of house price information and has apparently helped over 2 million people across the U.K determine the value of their home. The acquisition will add a further 700,000 users to PropertyHeads’ membership base.
The company holds data on almost 30 million homes across the U.K. and former OurProperty customers, who had used the website primarily for sold price research, will have access to new information. This includes year of construction, floor area, hyper-local planning news, local market commentary, and more, tailored specifically around the interests of the user.
Estate agents already have access to free property listings and 100% organic reach on PropertyHeads and the company says they will now have direct access to the additional 700,000 consumers, offering notable benefits in the areas of brand awareness and relationship building to deliver far-reaching lead generation opportunities.
Ben Davis said:
“We’re delighted to have completed the acquisition of OurProperty. It’s been at the forefront of housing market data for some years now and will allow us to provide unrivalled benefits to our agents and consumers.
“It’s a real statement of intent in the marketplace and we’ve gone from strength to strength in the short time we have been around. It serves as evidence that our carefully designed investment strategy continues to flourish and we have a number exciting deals in the pipeline to be announced shortly.”
As well as its portal function, the site allows users to create profiles to reflect their interests, preferences and requirements relating to housing. The company says that the social networking aspect enables them to make well informed decisions around the home moving process and associated property products and services.