Temple Bright advises on creation of the world’s biggest home-cleaning marketplace
Helpling, the leading global platform for on-demand home services, announced today the acquisition of Hassle.com, the European pioneer of this business model and the market leader in the UK. Both Helpling and Hassle.com enable customers to book a local, vetted cleaner online or via a smartphone app.
Hassle.com was established in December 2012 and has enjoyed first mover advantage in UK and Ireland, where it is the clear market leader. Hassle.com is backed by Accel Partners – investors in Facebook, Etsy, Spotify, Dropbox and Atlassian. In 2014 The Times listed Hassle.com as one of its top ten disruptive digital startups.
Innovative law firm Temple Bright advised the founders of Hassle.com together with its lead investor Accel Partners, working opposite Addleshaw Goddard and Noerr who acted for Helpling. Temple Bright’s advice on the deal was led out of the firm’s London office, opened in 2013 in the heart of the capital’s technology district around Old Street.
Hassle co-founder Alex DePledge said: “It is no secret that Helpling moves fast. Their ability to scale and raise money is impressive. This, combined with our ability to build depth in market and user loyalty, means that together we are a force to be reckoned with. Our goal from the beginning has always been to become a global domestic cleaning brand. This strategic move takes us significantly closer to that goal.”
Philippe Botteri, partner at Accel Partners, said: “This deal sees two world-beating teams come together to become the most dominant player outside of the US. Accel Partners is also excited to join the board and be part of the outstanding group of investors who will continue to champion the Helpling and Hassle.com founding teams to become the leading global player in this space.”
Temple Bright corporate partner Nadim Zaman said: “It’s a privilege to act for the founders and Accel Partners, both of whom picked up industry awards at the 2015 Europas in the midst of negotiations. This was M&A at pace and a great team effort from start to closing. The result is a significant milestone in the global on-demand home services market.”
First established in Bristol in 2010 by a group of former City lawyers, Temple Bright has grown rapidly on the strength of a streamlined partner-only business model. The firm now has over 40 partners spread evenly across its two offices, and has gained a particularly strong reputation in London’s vibrant technology scene.
Co-founder Tim Summers said: “Congratulations to Hassle.com and Helpling on what seems certain to be a game-changing deal for their sector. Home services have now gone digital and this move will create an international powerhouse in that space.
“It is also a landmark deal for Temple Bright. We’re delighted that, just five years after launching our firm, we are now working with leading players like Hassle.com and Accel Partners on global transactions. This is a huge credit to Nadim and our experienced Tech City team.”
This article appeared in the Bristol Business Newsletter on 3 July 2015.