Rated People, an online market which assists to link homeowners with tradespeople, has received a new money injection.
Downing Ventures and Channel 4 invested ₤ 5.2 m into business, which will utilize the cash to continue establishing its proprietary innovation and increase brand awareness.
Celia Francis, CEO of Rated People, commented: “Rated Individuals has actually experienced significant growth recently. The ₤ 2.5 bn of work flowing through us is substantial and we’re operating in an amazing market where that equates to a 4.5% market share.
“We’re happy to have the financial backing from Downing Ventures and Channel 4, to further accelerate our development and fulfill our goals of helping tradespeople run effective services and making sure house owners can quickly find and acknowledge quality tradespeople who are readily available to meet their home enhancement requires,” the CEO added.Alex Mahon,
CEO of Channel 4, explained why he backed the company: “At Channel 4, we like to deal with ingenious brand names who have great stories to share. We’re delighted by the work Ranked People is doing to transform the home improvement space and pleased to provide the medium to accelerate their future growth.”
James Lewis, investment director at Downing Ventures went on to note: “Ranked People have the innovation competence to provide house owners near to on-demand access to quality, local and, most importantly, offered tradespeople who can provide competitive quotes to get their work finished. We think that this is a compelling opportunity to back an excellent management group in a growing and digitally under-penetrated UK market.”