Purplebricks.com Raises £8M in Equity Funding

Purplebricks.com, a Birmingham, UK-based online estate agent, raised £8m in equity funding.

The round was led by Fund manager Neil Woodford, which acquired a 30% stake in the business via Woodford Equity Income, as well as angel investors and DN Capital.

The company intends to use the funds to expand nationwide.

Founded in April 2014 by Michael Bruce, Kenny Bruce, and David Shepherd, Purplebricks.com combines the estate agency model with an interactive and online platform to allow customers to sell their homes for a fixed fee of £599.