RatedPeople.com, a U.K.-based online marketplace connecting homeowners with recommended local tradesmen, has closed a £6.5 million ($10.7 million) investment. N+1 Singer served as the advisor on the transaction. The pre-IPO round consists of £5.5 million ($9 million) of new equity investment led by existing investor Frog Capital and £1 million ($1.6 million) of venture debt from Silicon Valley-based Western Technology Investment.
Since its inception in 2005, U.K. homeowners have posted 2.4 million jobs on RatedPeople.com, spanning 30 home improvement categories from building and roofing to plumbing, electrical and gardening work. Frog Capital initially invested £3 million ($4.9 million) in RatedPeople.com in 2011.