A proptech business that specialises in the ‘instant’ buying of homes has appointed former Uber executive Fred Jones as its new chief operating officer.
UPSTIX buys homes for cash in as little as seven days, it says; it has appointed Jones to scale the business and incorporate AI into its valuation and home-buying strategy.
Jones has previously worked at Uber as the general manager for UK and Ireland. He was also a board director. From 2015, he is credited with growing the company’s presence from just a handful of cities to its current nationwide presence.
In 2020, he joined mobility company TIER, where he oversaw operations in Northern Europe, growing the business from four countries and 12 cities to seven countries and more than 50 cities.
He also led the integration into its UK operations of a number of acquisitions made by the firm, including SPIN, previously owned by Ford.
Giles Mackay, who founded UPSTIX in 2021, said: “I was impressed by Fred’s knowledge of the market and his understanding that the country’s slow, outdated sales process needs a fresh approach.
“His experience growing two enormously successful businesses from a small footprint in the UK will be invaluable to UPSTIX as we seek to capitalise on a period of strong growth. Fred understands the importance of a customer-centric approach and we welcome his leadership at an exciting time for the company.”
In his new role, Jones will be expected to scale-up both the geographies the company operates in, and the volume of transactions. He will also deepen its tech-driven approach to valuation and purchasing.
Jones said: “It’s a privilege to work for another tech-driven consumer business that is solving tangible, real-world problems.
“There is a pressing need for the process of selling a home to become quicker and more reliable.
“I’ve personally known the frustration of a property chain collapsing, and elsewhere in the market we’re seeing many landlords who need to sell quickly as their investments become unviable due to higher interest rates and increasing regulation.
“I’m looking forward to capitalising on UPSTIX’ existing success and expanding the business into new locations that would benefit from a quick, secure, and AI-driven sale process.”
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