BRIGHTSALE APPOINTS NEW NATIONAL DIRECTOR OF SALES

Today BrightSale, the rapidly growing online estate agent, announced that it had received £100,000 (US$ 196,000) in venture capital backing from the private internet and media fund Aspiration Capital Management LLP.

The funds will be used for marketing and development of BrightSale’s state of the art website and sales platform.

The news follows the recent appointment of new National Sales Director Jason Cheeseman.

Aspiration Capital Chief Investment Officer Dr Jeremy Howard said:

“There is a very bright future for online estate agency in the UK. In the US, companies like RedFin have attracted VC funding of tens of millions of US$. The UK estate agency market is worth £4.5 billion annually and yet very little has been invested into online agencies. Our investment will ensure that BrightSale continues its march to the top of the tree in this space. We think that the online sector is poised to make substantial market share gains as people increasingly realize that the traditional model, with its high costs and low service levels, is no longer attractive.”

BrightSale Managing Director Mr Andy Etches said:

“We are clearly very excited to have secured this backing and look forward to receiving the benefit of Aspiration Capital’s financial expertise. Our platform is virtually complete but we need to communicate our message more widely to the general public. Our aim is to be the clear market leader by the end of this year and these funds will certainly help us to achieve that.”

ENDS

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Press Contacts and further information.

Visit BrightSale at www.brightsale.co.uk

Visit Aspiration Capital Management at www.aspirationcapital.com

For further information contact:

Andy Etches on 07515 888455 BrightSale, andy@brightsale.co.uk

Dr Jeremy Howard on 07701 090046 Aspiration Capital Management, jeremy.howard@aspirationcapital.com