More funds for Zoopla

Consumer property website Zoopla plans a marketing push to increase awareness of its brand following a £3.25 million fundraising led by venture capital firms Atlas Venture and Octopus.

The funding comprises £1.75 million of new equity finance from existing shareholders, led by the two VC firms, and a £1.5 million debt facility from Silicon Valley Bank, the commercial banking arm of SVB Financial Group.

Zoopla, which claims to be one of the UK’s top three property websites with more than five million visitors a month, aims to use the money to increase its brand awareness following its first national TV advertising campaign earlier this year. According to a statement from the web-based company, another advertising campaign will soon be launched across a number of national and digital television channels.

The latest funding comes less than two years after the company, which provides data on house prices, free valuation estimates and listings of properties for sale, secured £3.75 million in a series B round in January last year.

Zoopla founder and CEO, Alex Chesterman, comments that ‘despite the current market uncertainty’, the company is ‘totally committed’ to supporting the online real estate industry, growing its market share and increasing brand recognition.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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