12th February 2008 - Aspiration Capital Management Invests £100,000 in UK Online Estate Agency BrightSale
Today BrightSale, the rapidly growing online estate agent, announced that it had received £100,000 (US$ 196,000) in venture capital backing from the private venture capital fund Aspiration Capital Management LLP.
The funds will be used for marketing and development of BrightSale’s state of the art website and sales platform. The news follows the recent appointment of new BrightSale National Sales Director Jason Cheeseman.
Aspiration Capital Chief Investment Officer Dr Jeremy Howard said:
"There is a very bright future for online estate agency in the UK. In the US, companies like RedFin have attracted VC funding of tens of millions of dollars. The UK estate agency market is worth £4.5 billion annually and yet very little has been invested into online agencies. Our investment will ensure that BrightSale continues its march to the top of the tree in this space. We think that the online sector is poised to make substantial market share gains as both agents and consumers abandon the high cost and increasingly unsustainable traditional model".
