easyProperty seeks fresh funding

easyProperty, which last week became the first UK online estate agency to offer clients the ability to exchange legally binding property contracts online, is seeking £5 million to fund its expansion and additional investment in marketing. Talks with investors are believed to be at an advanced stage, with the company hoping to use part of the fresh funds to expand into the auctions and international markets. It is understood that the company also has an option to expand the business into six other European markets, including France, Germany, Greece and Italy, while easyGroup has an option to buy a further 3.4 per cent of the property company’s shares, as part of an exclusive 20-year agreement with easyProperty. News of easyProperty’s latest attempt to attract new investors comes just days before Purplebricks, a competitor online agent, unveils plans to list on the London Stock Exchange. In a statement, a spokeswoman for easyProperty said, “We can confirm easyProperty’s CEO Rob Ellice has been undertaking a planned third round of investment talks in line with commercial plans to fund the continued expansion of the growing online estate agency business.” Ellice (left), who claims that there has been “strong interest from major players”, reports…