Newcastle-headquartered iamproperty reports record results
Newcastle-headquartered iamproperty reported revenue of Β£51 million for the year ending October 31, 2024, an 18 per cent increase from the previous year.
The company also saw EBITDA rise by more than 22 per cent to Β£15.1 million, marking its highest performance since its founding in 2009 by Ben Ridgway and Jamie Cooke, who continue to lead the business.
Ben Ridgway, co-founder of iamproperty, said: “Continuous innovation to improve the moving experience for everyone has always been what drives us.
“We launched two new solutions in our last financial year which are central to our ecosystem vision.
“Now we have a suite of market-leading solutions, our next phase of development will see us bring them all together, so estate agents have everything they need to manage their agency under one roof, creating more opportunities for them to be successful.
“To support this innovation and build our future, we’ve invested heavily in our people and technology.
“Growing to 700 people across the UK was a huge milestone, and with recruitment ongoing, it’s a really exciting time to join us.”
Iamproperty delivers digital solutions to more than 6,500 estate agency branches nationwide.
Its growth has been driven by strong residential auction sales, as well as the introduction of new products aimed at streamlining estate agency operations.
During the reporting period, iamproperty helped agents sell more than Β£1 billion worth of property through over 10,000 auction sales.
The company also launched a prospecting platform and a cloud-based CRM system, moving closer to its goal of creating a fully integrated suite of tools for estate agents.
Headcount grew by more than 120, bringing the team to over 700 people across the UK.
Towards the end of the financial year, iamproperty began recruiting for an additional 100 roles as it marked 15 years in business.
Jamie Cooke, co-founder of iamproperty, said: “It’s been another brilliant year of collaboration with our agent network and fantastic to see more agents than ever benefitting from our tech and service.
“These results are a testament to our team, who have supported our network to achieve record auction sales which have been key to our growth, as well as delivering on our innovation roadmap which will take us into our next phase of growth.”
The company is backed by Perwyn, a European private equity investor.
Gurinder Sunner, partner at Perwyn, said: “These results demonstrate iamproperty’s differentiated strategy and the great strides being made by Ben, Jamie and team as they build a platform of scale and deliver on their plans to lead the sector.
“It is apparent that, even against an evolving market backdrop, the group’s fast-growing ecosystem of services and solutions is creating enhanced value for estate agents, bringing speed, security and transparency to every type of property transaction in the UK.
“The opportunity ahead is significant and we look forward to supporting the company as it moves closer to achieving its ambitious growth objectives.”