Movebubble, a UK-based rental platform, has successfully secured its initial £800,000 funding target from more than 370 investors on equity crowdfunding platform, Seedrs. As previously reported, Movebubble has connected over 150,000 renters with properties through its mobile app. The company stated:
“By connecting renters, agents and large-scale landlords via our mobile platform, we enable them to communicate so much better. Renters can save hours on their search and are empowered to share their feedback with the rental community. This, in turn, creates a feeling of accountability and promotes those people in the industry who are really providing a great service.”
Movebubble also revealed that it was nominated the best property app of 2016 by the Evening Standard. It was featured by Apple multiple times as “App of the week.” At the end of 2017, the company launched its first revenue stream: charging agents and large-scale landlords a monthly subscription to use the platform. Funds from the Seedrs funding round will be used for the following:
- London expansion
- Product development
The company added:
“For the rest of 2018 our focus will be maintaining growth in London. We will continue brand-building activity through to the end of the year in order to drive users and revenue on the platform. In preparation for expanding to other cities, funds will be used to accelerate product development and ensure the platform is ready to scale beyond London. This will enable us to start helping more and more renters across the world.”
The Seedrs funding round is currently scheduled to close later this month.
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