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Facebook’s Property Place wins financial backing for expansion

Property Place, a Facebook application that enables estate agents to advertise properties on the social networking site, has won new financial backing and appointed a heavyweight industry figure as its chairman.

Property Place, which launched earlier this year, has completed a round of venture capitalist funding with Finance Yorkshire.

This fresh capital has allowed the business to add new staff to its management team to help accelerate its growth, said founder Sohail Rashid.

The chairman is Dean Fielding, who was group financial director of LSL for eight years. He is joined by sales and operations director Yuseph Hedar, formerly CEO of Green Flag, and Alex Craven, digital director, who has founded two successful digital marketing agencies.

Rashid said: “I am really excited about our team and plans. All of them have excellent credentials and we will soon be introducing some exciting new improvements to the application.

“This new team will build upon Property Place’s current success, and continue to help sellers and estate agents in tough market conditions by more efficiently connecting them with the right buyers through our social media platform.”

Fielding said: “When I first looked at Property Place, I was instantly impressed with the business model. There is a real need in the market for an innovative service particularly for independent and regional estate agents.

“Property Place has the ability to change how independent agents market their properties and connect with new clients. We can offer something that no other traditional portal is able to.

“I’m looking forward to help shake up this sector and add some much-needed competition and innovation.”

The new funding will also be used for consumer marketing campaigns.

https://apps.facebook.com/propertyplace/

Source: EAToday 15 June 2012