Zoopla and Fixflo have ‘unwound’ a deal widely publicised a year ago, when Zoopla announced a £1m investment into a quartet of Proptech businesses.
Describing the businesses as “four of the most promising Proptech start-ups”, Zoopla said it was entering into a long-term strategic partnership with each.
The beneficiaries were PropertyDetective, Fixflo, Landbay and Trussle.
However, the investment in Fixflo, the repairs reporting platform for tenants, was not long term – and may have lasted no more than weeks.
Both Zoopla and Fixflo have now revealed to EYE that the investment was unwound by mutual consent.
In its initial announcement, Zoopla said its deal would give agent members tools to help them manage tenant maintenance issues more effectively.
This week, asked about the anniversary of its investments, a ZPG spokesperson said: “We are very happy with the PropTech and FinTech investments we have made: PropertyDetective, Trussle, Bricklane, LandBay and Neos.
“The Fixflo investment was unwound by mutual consent in the end as it conflicted with our own products once we bought Property Software Group.”
Rajeev Nayyar, founder of Fixflo, also confirmed to us: “Zoopla’s investment in Fixflo was unwound by mutual consent.”
The announcement of the £1m investment into the four Proptech firms was on February 16. The deal to acquire the Property Software Group, for £75m, was announced by Zoopla on April 19.