Property social network completes fundraising round and acquires OurProperty
UK property social network, PropertyHeads, has completed its latest fundraising round and acquired one of the country’s longest-serving property data and information websites, OurProperty.co.uk.
PropertyHeads sold a 3 per cent stake in the company to a handful of private investors, some of which are founders of London-based hedge funds. This, and follow-on investment will be used to bankroll a series of major acquisitions and joint ventures that will soon be announced by the property social network, which was founded in 2018.
The fundraising was led by the founder and CEO of the company, Ben Davis, who has extensive experience in the finance sector and raised over GBP1 billion during his time in investment management.
The acquisition of OurProperty, which was founded in 2003 and has since established itself as a leading provider of house price information, represents a significant coup for PropertyHeads. OurProperty has helped over two million people across the UK determine the value of their home and they will add a further 700,000 active users to PropertyHeads’ growing membership base.
There will be significant benefits to both consumers and estate agents, who form the core of PropertyHeads’ network. The company holds data on almost 30 million homes across the UK and former OurProperty customers, who had used the website primarily for sold price research, will have access to a plethora of new information. This includes year of construction, floor area, hyper local planning news, local market commentary and much more, all of which is tailored specifically around the interests of the user.
Estate agents already benefit from free property listings and 100 per cent organic reach on PropertyHeads, and its acquisition of OurProperty will produce one of the industry’s most compelling and powerful agent marketing propositions. Agents will have direct access to an 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, founder and CEO of PropertyHeads, says: “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.”
PropertyHeads is the property industry’s social network. In addition to its vast pool of housing data, it has registered over 10,000 property businesses. It combines elements for its users that are typically associated with LinkedIn, Facebook and property portals to create an all-encompassing hub of information, content and interaction for all things property, crucially delivered around the specific interests of the user.
As well as its portal function, the site allows users to create profiles to reflect their interests, preferences and requirements relating to housing. The social networking aspect enables them to make well informed decisions around the home moving process and associated property products and services.