The estate agency comparison platform GetAgent has secured a £2.2m investment from a consortium of investors.
Backers are reported to include
Marchmont Ventures and the Channel 4 Commercial Growth Fund, in what is most
likely to be an equity for airtime arrangement. Channel 4 invested £1m into
GetAgent last year and the company subsequently embarked on its first TV advertising
Alan Martin, Managing
Director at Marchmont Ventures commented: “Very excited for Marchmont Ventures
to be investing in GetAgent.co.uk to help scale their much-needed service in
property market. Looking forward to the journey with Colby Short and Peter
Thum-Bonanno and their great team.”
Few will argue against the logic of an estate agency comparison site in principle. However, at the end of the day GetAgent is essentially in the property portals business – something that is turning out to be both a very competitive business and one which is burning through huge amounts of investment.