Channel 4 Ventures is delighted to announce that they have invested in Strike, the fast-growing online estate agent that sells homes for free.
Strike has raised £11 million via its latest funding round, with Channel 4 Ventures investing alongside Sir Peter Wood via SPWOne, and existing investors Freston Ventures and Toscafund.
The investment will allow Strike to scale up its digital-first approach to drive its growing market share which has already seen a dramatic jump over the past 12 months.
Strike has its sights set on becoming the largest UK estate agency brand next year, surpassing both traditional and online counterparts. It is already one of the leading agents across the North of England and last week expanded its sell for free service to the Midlands and parts of Central England.
Also backed by Sir Charles Dunstone, an early investor in the business, the latest funding round will also enable Strike to increase brand awareness through Channel 4 Ventures’ investment in a media-for-equity deal.
Sam Mitchell, chief executive officer at Strike, said: “We set out to shake up the estate agency industry when we first launched our sell for free service in 2019, and now we’re focused on expanding our digital-first offering through strategic investment and innovation. It has been a turbulent year for the housing market, but we’ve managed to succeed against the odds. Having the likes of Channel 4 and Sir Peter Wood on board will allow us to continue turning the industry on its head.”
Sir Peter Wood, Chairman of SPWOne said: “Strike’s clarity of proposition and innovation captured our attention. The business’s approach to moving home, supporting customers at each and every stage of their transaction and experience, resonated with us and we believe the concept has considerable potential. I am pleased to be part of the Strike journey and look forward to supporting the business as it develops.”
Vinay Solanki, Head of Channel 4 Ventures said: “Strike’s disruptive ambition to redefine the way people move homes resonates with our own challenger brand values and sits well within Channel 4 Venture’s growing investment portfolio, which we’re focused on scaling as part of our Future4 strategy to diversify new revenue streams. We’re looking forward to seeing the growth of such a forward-thinking business with the help of Channel 4’s powerful marketing platform to elevate the awareness of this exciting new brand.”
Strike is the evolution of Housesimple following a rebrand in 2020. The online agent has sold over £4.5 billion worth of properties since first launching, helping more than 45,000 people move home.