Zump, a Social Network for Property, Raises £236,380 via Crowdcube

Zump, a professionally designed social network for property (think LinkedIn/Instagram for Real Estate),  has raised 94% (£236,380) of its £250,000 target from 131 investors (at the time of writing) through its crowdfunding campaign via Crowdcube (with  15 days left in the sale).

Zump reports a £5,100,917 pre-money valuation; 4.67% Equity, EIS; a £3.50 share price.

As explained in the update, Zump has designed a social network for property. It aims to disrupt “a frustrating and outdated £68bn (UK) market, by removing barriers and connecting owners, buyers and professionals in one network to create more opportunity for people to find homes they love.”

Here are some business highlights:

• UK real estate market – annual £68bn revenue
• Publicly tested app available in Bristol
• 3.5k downloads. Multiple businesses and professionals ready to join
• Previous investment of £750k from Family office & Angel investors

As noted by the firm’s management, finding the right home has “never been more difficult, with many owners not wanting the hassle and commitment of putting their own property on the market until they do.”

Rightmove received “a record 65m leads in ’21, but with only 250k properties on the market, an outdated industry full of barriers is blocking supply and frustrating demand.”

With tech savvy millennial’s one of the dominant home buying generations, social media “is becoming a priority for agents spending more on online marketing.” Demand for easier, more efficient ways ‘to connect around property has never been stronger.”

Zump has been designed to:

• Create a profile for your home, as you would a professional/social profile on LinkedIn/Instagram. Get ideas & inspiration, test the market and see who’s interested without committing, or find professionals to help sell, plan a move or improve your home
• Use powerful search features to find and connect with homes you love in a new way
• And for the pro’s, create a profile, post & share content, grow your following and reach more customers

With a publicly tested app now out of Beta, this investment will be used “to formally launch in Bristol, begin building the professional network and start to generate revenue.”

A post Covid world and trends driven by millennial’s have “created a perfect storm.” Zump will aim to give people “a new way to stay connected, informed and inspired around property.”