Boomin, the online property portal founded by the former boss of Purplebricks, is close to finalising a new round of funding that will value it at close to £150m.
Sky News has learnt that Boomin is putting the finishing touches to a capital injection that will see up to £20m committed to the business.
City sources said the company, which was launched by Michael Bruce last year, was likely to announce details of the fundraising – which has been overseen by Oakley Advisory – in the coming weeks.
As part of the round, estate agents who sign up to the portal are being offered an allocation from a pot of free shares.
Existing investors, including Channel 4’s media-for-equity venture and Foxtons, are understood to be participating in the latest raise.
Boomin says it has amassed 8000 agents on its platform, including many of Britain’s 100 largest brands, including Hunters, Belvoir Group and Carter Jonas.
It recently launched SmartVal, an online valuation tool which it says sits in between fully automated valuations and detailed physical property inspections.
Boomin was set up by Mr Bruce and his brother Kenny to challenge existing property portals such as Rightmove and Zoopla.
The company is chaired by Stephen Murphy, the former Virgin Group chief.
Boomin declined to comment on Thursday.