Allianz-backed fund switches on to energy start-up Hometree

The British technology start-up was seed funded by DN Capital, Local Globe and Literacy Capital in 2017 and is now joined by a new venture capital fund backed by one of Europe’s largest insurers.

Covered by Sky News, you can view the full article here, with an excerpt below.

The $8.5m (£6.5m) fundraising, which will be announced on Wednesday, will be used to aid Hometree’s expansion throughout the UK and enable it to begin offering a wider range of domestic services.

Sources said that the business was on course to record year-on-year revenue growth in 2018 of more than 400%.

The company has unashamedly sought to ape Purplebricks’ strategy, recruiting James Kydd, a former executive from the online estate agent, to act as an adviser.