Investment type
- Development capital
iamproperty is a leading provider of technology solutions to UK Estate Agents, helping them to save time, reduce risk, drive efficiencies and revenues, all while improving the experience of buying and selling property for everyone involved in property transactions.
It pioneered the Modern Method of Auction and today works with more than 6,000 Estate Agency branches.
Funding for expansion
LDC completed a minority investment in iamproperty in 2019 backing entrepreneurs Ben Ridgway and Jamie Cooke, who founded the business together in 2009. With LDC’s support, the management team heavily invested in innovation, continuing to make big changes in the industry. During the partnership, iamproperty launched the UK’s first end-to-end onboarding and conveyancing platform ‘movebutler’, and completed two complementary acquisitions, supporting its Partner Agents with more market-leading solutions to accelerate their success.
When we began the search for an investor in 2019, we were looking for a partner that would give us the capital, support and advice we needed to help us achieve our goals. What really attracted us to LDC was the breadth of sectors they invest into and the relationship we had built with Gareth Marshall.”
A transformational growth journey
During a four-year partnership, iamproperty reported transformational growth.
Since LDC’s investment, revenue has grown by 3.5x for the year ending October 2023 and is expected to reach £76m, and EBITDA has increased by 4.5x over the same period. Last year saw the business’ biggest year of growth, with revenue up by 45 per cent on the previous year to £55m.
The business has also continued to invest in talent across its technology, customer service and sales teams, and today employs more than 530 people in the UK, growing from 180 when LDC invested.
In October 2023, LDC exited its investment in iamproperty to Perwyn in a transaction that marked a 278% increase in the enterprise value of the business and generated a 3.7x money multiple return for LDC.
We thank LDC for their guidance, which has supported the business through a very exciting period of growth and development.”
Awards
Deal of the Year (£20m+)
North East Dealmakers Awards 2024
Northern Finance Director of the Year – Growth/Scale Up (Eoghan Johnston )
Northern Financial Director Awards.2023
Highly Commended for Best Growth Initiative
Management Today Business Leadership Awards 2023
Northern Tech Awards Top 100
2023
Judges’ Innovation Award
Northern Tech Awards 2022
100 fastest-growing technology companies in the North of England and Scotland (No. 64)
Northern Tech Awards 2022
Vision 2022 – Leaders driving growth
BVCA – Yorkshire and the North East