iBuyer UPSTIX hires former Uber executive as COO to lead AI-driven homebuying strategy
Former Uber executive Fred Jones has joined instant buying firm UPSTIX as its new COO to scale the business and further incorporate AI into its valuation and home-buying strategy.
UPSTIX is a data-driven proptech company that purchases homes for cash in as little as seven days.
Jones previously worked at Uber as the General Manager for UK and Ireland and Board Director. From 2015 he grew the company’s footprint from just a handful of cities to its now ubiquitous nationwide presence.
He then joined mobility company TIER in 2020 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.
In joining UPSTIX, Jones will scale both the geographies the iBuyer operates in and the volume of transactions, and deepen its tech-driven approach to valuation and purchasing.
UPSTIX has seen impressive growth since its inception in 2021 as the UK housing market wrestles with slow sale times, broken property chains, and higher interest rates impacting demand.
Fred Jones, COO of UPSTIX, 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’s existing success and expanding the business into new locations that would benefit from a quick, secure, and AI-driven sale process.”
Giles Mackay, founder of UPSTIX, said: “I was impressed by Fred’s knowledge of the market and his understanding that the country’s slow, outdated sales process needs a fresh approach.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.”
