In a significant move for the proptech sector, investment firm Perwyn has acquired a stake in Newcastle-based company iamproperty. The exact amount involved in the transaction was not disclosed, but this strategic partnership marks an exit for previous stakeholder LDC.
iamproperty, co-founded by Ben Ridgway and Jamie Cooke, is a leading technology service provider in the UK real estate market. The company partners with over 6,000 estate agency branches and offers a comprehensive ecosystem of solutions designed to accelerate agents’ businesses.
Perwyn Invests in iamproperty https://t.co/qKJLCHXRq6
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This ecosystem includes iamsold, the UK’s leading residential auction service, movebutler, an end-to-end digital client onboarding and conveyancing solution, and iamproperty CRM, a cloud-based customer relationship management tool. The company plans to use the investment funds to expand its operations and reach a wider market3.
The deal with Perwyn is expected to bring new growth opportunities for iamproperty. With Perwyn’s expertise and support, the proptech company aims to continue disrupting the residential property market and bring innovative solutions to the industry.
Perwyn’s investment in iamproperty aligns with the former’s strategy of backing businesses with high growth potential. The private equity firm’s involvement is expected to provide iamproperty with the necessary resources and expertise to take its business to the next level.
This strategic partnership underscores the growing interest in the proptech sector, as more investors recognize the potential of technology-driven solutions in transforming the real estate industry. As property transactions become increasingly digital, companies like iamproperty are well-positioned to lead the way in this evolving landscape.
The transaction has resulted in a 278% increase in the enterprise value of iamproperty, demonstrating the significant growth the company has achieved.