Zoopla acquires sales progression platform YourKeys - AIM Group (original) (raw)

British real estate portal Zoopla has acquired YourKeys, a leading software provider for housebuilders, for an undisclosed amount.

The move supports Zoopla’s aim to expand its presence in the new build homes sector and further support its agent members and complements its own software products. YourKeys is one of the first proptech companies to take the entire property sales process online, according to Zoopla.

As part of the deal YourKeys 25 staff, including co-founder and CEO Riccardo Iannucci-Dawson (LinkedIn profile) will join Zoopla. Iannucci-Dawson incorporated the business in 2017, launched it in 2018 for developers and then to agents in January 2020. It won ‘Best Enterprise Tech Project’ at the 2020 National Technology Awards and the ‘Innovation Award’ at the EG Tech Awards.

YourKeys helps streamline the property sales process, using intuitive and real-time reservation-to-completion software platform that combines the process for buyers, conveyancers and lenders, delivering cost and time savings for housebuilders and developers. Its software is integrated with all of the major housebuilders CRM’s to make the overall process more transparent. The software lets housebuilders onboard buyers remotely and automate paperwork, checks and applications and enable them to take reservations.

The software also provides real time sales progression tracking by integrating into the case management systems of solicitors, mortgage brokers and lenders, giving agents and developers more visibility.

“When we recently announced our vision we made a commitment to providing our customers with the very best software and services,” said Zoopla CEO Charlie Bryant.

“With the acquisition of Yourkeys we’ve absolutely done that. Their technology and the service they offer are truly best in class, providing a smoother, better and more comprehensive experience for housebuilders.”

YourKeys also claims it reduces fall-through rates for housebuilders. Zoopla categorized the company as ‘star proptech’ because it’s one of the first to “take the entire ‘reservation to completion’ property sales process online”.

The acquisition is more evidence that Zoopla is trying to gain an edge over Rightmove by beating it on technology and software. Last week Bryant announced he wants to create a data hub for every U.K. residential property and said he believes data is the key battleground for property portals. This has been a key part of Zoopla’s strategy in recent years since its acquisition by Silver Lake in 2018. Zoopla said over time YourKeys software will provide better understanding of lead origination and success rates through extra integration of Zoopla portal leads and reservations and/or completed sales.

“We’ve now found a home inside the most innovative property marketplace in the country and, together, we can fulfill our ambitions to transform the way properties are bought and sold,” said YourKeys CEO Riccardo Iannucci-Dawson.