DN Capital joins £8m round for portfolio company Purplebricks

The fresh capital will enable Purplebricks to expand across central England, with its focus currently on the south of the country. 

DN Capital and private investors Paul Pindar and Martin Bolland – both existing backers – invested more than £1m, with Woodford providing the remaining £7m via the £2.4bn Woodford Equity Income vehicle. According to reports, the investment amounts to a 30% stake in the company.

DN Capital led a multi-million-pound injection into Purplebricks in March this year, alongside Pindar and Bolland.

Company
Founded in 2012 and launched in April 2014, Purplebricks is an online estate agency platform designed to allow customers to have 24-hour access and support for transactions. The company has a team of "local property experts" who provide support for customers.

Customers looking to sell property can book a free valuation and pay a fixed fee for a written description, floor plan, photos and listings on major property sites to be provided by Purplebricks.

People
Michael Bruce is the CEO of Purplebricks and founded the company alongside Kenny Bruce. Lawrence Barclay is an associate at DN. Managing partner at the firm, Nenad Marovac, currently has a seat on the board.

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• Topics
• UK / Ireland
• Consumer
• Expansion
• United Kingdom
• DN Capital