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Successful exit for NPIF II as Street Group reaches £200m+ valuation

Press release 04 August 2026

Manchester-based Street Group, a leading provider of software and AI solutions for the UK residential property sector, has reached a valuation of more than £200m following a strategic growth investment from Hg, representing a successful exit for NPIF II – PXN Equity Finance which is managed by PXN as part of the Northern Powerhouse Fund II.

Founded in 2015 by siblings Tom and Heather Staff, Street Group provides technology designed to help estate and letting agencies operate more efficiently, generate new business and deliver exceptional customer service. Its product offering includes Street.co.uk, an integrated CRM covering sales and lettings, property management and client accounting, alongside Spectre, a prospecting and lead-generation platform.

Street Group secured a £3.3m investment from PXN Ventures in 2024, including funding from NPIF II – PXN Equity Finance, alongside EIS and VCT funding. The investment supported the business as it accelerated product development, expand its team and continue to introduce innovative technology and AI solutions to the estate agency sector.

Since receiving investment, Street Group has continued to scale its operations and strengthen its position in the UK PropTech market. The business now serves thousands of estate and letting agency branches across the UK and has established itself as one of the fastest-growing and most innovative providers in the sector.

Its technology uses AI to automate and improve traditionally manual processes across estate and letting agencies. Spectre’s Propensity to Sell model predicts when a property might enter the market, improving campaign efficacy by more than 300%, while Street.co.uk includes AI-powered functionality such as property listing generation, image enhancement and tenant maintenance triaging.

The company has also expanded its AI capabilities through the development of Cortex, which enables customers to build and orchestrate their own AI agents, supporting Street Group’s ambition to create an integrated operating system for estate and letting agents.

Street Group’s growth has now attracted a strategic £7m investment from London-based private equity investor Hg, which brings to valuation of the company at more than £200m. This also marks a 4.4 times return for PXN Ventures, representing a strong exit for the Northern Powerhouse Investment Fund II.
Looking ahead, the business plans to build on its strong growth and accelerate its AI-led product vision, with ambitions to become the category-defining software and AI platform for US estate and letting agents.

Heather Staff, Co-Founder of Street Group, said:

Our family has deep roots in the property industry, so we’ve seen first-hand the manual and complex processes that agents face. Moving home is one of life’s most stressful experiences and we have always firmly believed that modern technology is the key to making life easier for both agents and home movers. The NPIF II support from PXN was pivotal in allowing us to push our agent-centric approach and continue developing technology that helps our customers stand out in an increasingly competitive market. This has ultimately allowed us to secure the backing of Hg, setting us up well for our next phase of growth.

Louise Chapman, Fund Manager at PXN Ventures, said:

Street Group is a great example of an ambitious Northern business using technology and advanced AI to transform an established sector. When we invested, the team had already built an impressive and scalable business, and our investment helped them accelerate product development and reach more customers. It’s inspiring to see the progress the business has made since our investment and we can’t wait to see how the Tom and Heather continue to build the platform.

Sue Barnard, Senior Investment Manager at the British Business Bank, said:

The growth of Street Group highlights the strength of the North’s technology sector, with the business using AI and digital innovation to transform an established industry and drive productivity.

The Government’s Modern Industrial Strategy recognises the importance of technology and innovation in supporting economic growth and, through NPIF II, we’re committed to helping ambitious businesses like Street Group access the finance they need to scale, create jobs and develop innovative products. It is this support that ensures we can continue crowding in investment from the private sector, while generating strong returns for the Fund over the longer-term.

The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Further Information

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Notes to editors

About the Northern Powerhouse Investment Fund II

  • Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the South West’s smaller businesses at all stages of their development.
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland.
  • Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).
     

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