Zoopla injects £1m into four property technology start-ups
Zoopla is throwing its weight behind the next generation of property technology firms after investing £1m in four start-ups.
The FTSE 250 firm, which owns uSwitch, Prime Location as well its eponymous property search firm, said it has agreed exclusive partnerships with four "promising and innovative property technology start-up companies" to help ramp up their expansion and improve the experience across its own platform.
The start-ups include Landbay, a peer-to-peer lender; Trussle, an online mortgage adviser; FixFlo, an online platform, which helps agents manage tenant maintenance issues and repairs; PropertyDetective, a website which provides homebuyers with facts on their neighbourhood such as crime rates, schools and whether the property sits under a flight path.
Zoopla, which has faced stiff competition after the arrival of newcomer OnTheMarket.com last summer forced members to choose between Zoopla or Rightmove, has been focused on becoming a one-stop shop for all property services. Last April, the company bought home services comparison site USwitch for £160m.
Zoopla founder and chief executive Alex Chesterman, said: "We are delighted to announce our investments and partnerships with these exciting companies that will help us to further differentiate our offering for both our users and partners. These deals confirm our ongoing commitment to leading innovation and nurturing UK technology entrepreneurs and together with our ongoing internal product developments will continue to see us leading the way across the property space."