HMT LLP advised Downing on their £4 million investment in online home services marketplace Rated People Ltd.
Rated People is an online home services marketplace that aims to connect homeowners with high quality local tradespeople. The company offers access to more than 50,000 tradespeople, representing over 30 trades, and covering the whole of the UK. It is free for homeowners to post jobs on the platform. Trades customers pay a subscription fee, along with transactional revenues to access the marketplace and provide quotes for homeowners’ jobs.
Its annual membership offering reflects the company’s ongoing commitment to helping tradespeople run successful businesses, providing trades businesses with inbuilt features that help them stay organised and track the work they’re doing. Annual membership also provides trades businesses with access to over 200 personal and business discounts to cut costs on everything from tools at Jewson, to fuel and free mobile phone insurance..
Downing’s £4 million investment will enable the company to accelerate growth by investing in marketing and sales and continue driving innovation in its product offering.
HMT undertook financial due diligence on this transaction.
James Lewis, Investment Director at Downing commented:
“As ever, the HMT team got to grips with the business quickly and incisively and were easy to work with. We look forward to working with them in the future.”
Paul Read commented:
“We are delighted to have advised Downing on yet another transaction this year, after Glownet and Live Better With. Rated People has a proven technology expertise in the online home services marketplace and Downing’s investment will enable them to develop their brand and services. We look forward to working with them again in the future.”