Proptech: Aviva backs property tech start-up Opun with £3m funding
An online property startup that helps homeowners find local contractors to repair their homes has secured £3m of funding from Aviva's new capital venture arm.
Opun, which was founded two years ago by entrepreneurs Rod Brown and John Cushing, acts effectively like a broker by putting renters or landlords in touch with craftsmen in their area and helping them to negotiate the best price.
The online home improvements platform is the third company to win the backing of Aviva Ventures, specialist venture capital fund set up by the insurer in December to invest in fast-growing digital startups.
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It has pledged to spend around £20m a year over the next five years and has already invested two other ventures besides Opun including Appyparking, an app that helps drivers find parking spaces, and smart home security device Cocoon.
Ben Luckett, Aviva Ventures' managing director, said: “Opun is an exciting digital business built on robust technology and many years of experience in the home improvement industry. We were most impressed with how they have managed to build a digital business that has simplified an area notorious for its complexity."