An early-stage investor in Purplebricks is in talks to back the online estate agent's former boss as he raises tens of millions of pounds for his latest property venture.
Sky News has learnt that DN Capital is among a range of financial and industry players in discussions about taking a stake in Boomin, which is to be launched next year by Michael Bruce.
City sources said that Mr Bruce was seeking to raise up to £25m from prospective investors as he prepares to unveil what he claims will be a credible challenger to portals Rightmove and Zoopla.
The new venture claims to have signed almost half of Britain's 100 largest estate agents, including Foxtons, Hunters, Belvoir Group and Carter Jonas.
Mr Bruce left Purplebricks last year and has been largely tight-lipped about his new project.
Boomin has recruited a workforce of more than 100 people, including 60 technology specialists.
Mr Bruce declined to comment specifically on its talks with DN Capital, but said: "We are in talks with a multitude of investors, including some estate agents and strategic sector investors, on a first and significant equity raise to augment the substantial funds which are continuing to be provided by the founders of Boomin.
"Any monies will provide additional firepower as we look to revolutionise the property portal space, harnessing the latest technology to provide a superior service for agents and a more rewarding experience for customers."
The new venture is expected to offer a broader range of services than existing online property portals, which have divided opinion in the estate agency sector.
Purplebricks was founded in 2012 before being taken public in 2015, but has since embarked on a programme of international retrenchment.
The company is now run by Vic Darvey, a former Moneysupermarket.com executive.
On Tuesday, Purplebricks reported strong half-year results which sent its shares soaring by more than 16%.
