Derby mortgage firm to invest in Purplebricks founder’s new venture, say reports

Derby-based brokerage firm Mortgage Advice Bureau (MAB) is set to take a stake in Boomin, the new online property portal set up by Purplebricks’ founder Michael Bruce.

Sky News reports that MAB will join other investors including Channel 4 and Foxtons in investing in the new company to the tune of around £25m.

Boomin has been set up by Bruce and his brother Kenny as a direct competitor to the likes of Zoopla and Rightmove. The firm claims to have signed up the UK’s top 100 estate agents, including Grantham-based Belvoir and other such as Foxtons, Hunters and Cater Jonas.

Bruce left Purplebricks in 2019.