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iamproperty has announced Perwyn as its new private equity partner.
As a strategic investment partner with specialist expertise of working with ambitious technology companies, Perwyn will support the business, after a deal was struck, advised and supported in art by Jon Cooke, non-executive director, and chairman Mark Goddard.
Co-founders Ben Ridgway and Jamie Cooke, alongside the management team, will retain majority share and continue to drive forward the business.
The Modern Method of Auction business and UK’s first end-to-end onboarding and conveyancing platform, is already working with more than 6,000 UK estate agency branches.
Ridgway said: “2023 has been a year of continued collaboration with our Partner Agents and our team to drive our next phase of innovation and we are incredibly excited for the future. Earlier this summer we announced our vision for the iamproperty ecosystem and renewed our commitment to transform the property market and pioneer next gen agency solutions.
“With Perwyn now at our side, we are entering 2024 with ambitious plans to continue to grow our core services and deliver a multi-year innovation programme to deliver the iamproperty ecosystem. There is a great synergy between our teams, and we are excited to have their support for our next phase of growth.
“We’d like to take this opportunity to thank LDC for their support over the last four years through what has been a very exciting period of organic growth and acquisition.”
Gurinder Sunner, partner at Perwyn, added: “We have been hugely impressed by the iamproperty team’s transformative approach to auctions. Their differentiated strategy for market engagement has enabled them to forge a market-leading business in a growing sector.
“Perwyn is delighted to invest in the company, endorsing its vision for an interconnected ecosystem, and we are excited to partner with the team to facilitate the next phase of expansion as the business continues to scale.”
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