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The creative seed fund backed by Channel 4 (£20 million) and regional media development agencies (£30 million) has picked its latest investment. MyBuilder, “an online marketplace that brings builders and homeowners together”, is getting £350,000.
The site lets homeowners post jobs for would-be contractors, who each get an on-site profile and who are rated by their customers. Call it Rate My Builder. The business model – MyBuilder takes a quarterly subscription fee from builders plus five percent of any fees they get via the site, up to a maximum £250. Cash-in-hand this is not – but, in this day and age, tradesmen may well appreciate a noticeboard for new jobs.
“MyBuilder uses the web to deliver unique monetary and reputational transparency,” blogged 4iP investment team Melanie Hayes and Dan Heaf.
“It is in many ways a new form of consumer protection challenging both builders and consumers to change the way they do things; increasing accountability on both sides.
“The service in many ways continues the long heritage Channel 4 television has had with homes, guiding and educating homeowners on the best ways to improve their properties. We see our successful 4Homes website as a natural extension of this and a great platform to add value to MyBuilder.”