Zoopla puts £1m into 'proptech' sector

Zoopla was vying to remain front and centre of the property technology - 'proptech' - sector on Tuesday, announcing the investment of £1m into four startup firms, along with long-term partnerships with the businesses.

The FTSE 250 real estate platform said the partnerships included PropertyDetective, which provides property and neighbourhood research reports. Zoopla said this would allow users of its existing services, and agents, to access more in-depth property data.

Other partnerships included FixFlo, a repair reporting tool for agents to manage tenant maintenance issues more effectively; Landbay, a peer-to-peer lender for property allowing users to invest as little as £100 in the market; and Trussle, the UK's first online mortgage adviser.

"We are delighted to announce our investments and partnerships with these exciting companies that will help us to further differentiate our offering for both our users and partners," said Zoopla founder and CEO Alex Chesterman.

"These details confirm out ongoing commitment to leading innovation and nurturing UK technology entrepreneurs, and together with our ongoing internal product developments will continue to see us leading the way across the property space," he added.

Zoopla Property Group said it was establishing exclusive, long-term partnerships with the companies, as well as investing in them, to ensure it remained at the forefront of the 'proptech' sector.