Retail group John Lewis Partnership has bought UK-based home improvement contractor marketplace Opun for £3.5m ($4.7m) allowing Aviva Ventures, a corporate venturing subsidiary of insurer Aviva to exit, Retail Gazette has reported.
Founded in 2015, Opun has developed an online platform that enables homeowners and renters to hire and manage licenced home improvement contractors through its network.
The company will continue to operate under the same brand as a subsidiary of John Lewis, which said it acquired Opun to strengthen its position in the home services market.
Sean Allam, director of commercial operations at John Lewis, said: “John Lewis is known for delivering exceptional customer service. Opun’s commitment to end-to-end customer service chimes with our values and we think it is a great fit for customers.”
Formerly known as Mcado, Opun collected $1.2m of seed funding from undisclosed angel investors in 2015. Aviva Ventures made a $4.3m investment in the company the following year.