The challenger portal PropertyHeads has received funding in its quest to become the number one destination for homeowners in the UK. The company, which markets itself as a property social network with an integrated portal, has reportedly sold a 3% stake to private investors from city hedge funds.
CEO and Founder Ben Davis is himself a former investment manager and will no doubt have turned to connections in the city for funds destined for the purchase of veteran house prices website OurProperty.co.uk as well as future joint ventures and acquisitions.
OurProperty was the first site to make official Land Registry data available for the public and its purchase will allow PropertyHeads to tap into a well of house price data as well as add a significant number of users to the PropertyHeads database. Speaking about the purchase, Davis said:
“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.”
Read our interview with Ben Davis around PropertyHeads which was part of our UK Challenger Portal Series.