Student Rents, an SaaS rental platform, allowing agents “to advertise properties, students to find them and both to manage tenancies,” has raised 116% (£464,084.10) of its £400,000 target from 157 investors (at the time of writing) via Crowdcube with 4 days left in the firm’s crowdfunding campaign.
The firm reports 9.35% Equity; a £4,500,000 Pre-money valuation; £0.45 share price.
As noted in an update, Student Rents is a software-as-a-service rental platform, allowing agents to advertise various rental properties, students to locate them and both to manage tenancies. As mentioned in the announcement, they’ve “matched 11k tenants and signed 300+ paying agents in the £4bn student accommodation market, and are raising to invest in the start of the development of their app, new website and marketing team.”
Business highlights include:
- Operate in the £4bn UK student rental accommodation market which is expected to grow 22% in 2022
- Contracts with over 300 paying agents, with 500 rooms currently live
- Matched 11,000 students to properties, advertised 14,000 rooms to date
- £59k revenue generating after one year in 2021 (-£12k EBITDA ), using just an MVP website
As explained by the firm, they are on a mission “to digitalize the student rental market by providing a purpose-built SaaS platform, allowing users to manage the entire tenancy process on one platform in the £4bn student accommodation market.”
The firm added that agents and landlords “could save time and money by avoiding the hassle & costs subscriptions that [they] believe numerous platform have, and can benefit from showcasing reviews.”
Whilst students “can easily browse properties, and both parties can manage tenancies, complete compliance procedures and communicate directly.”
Since teir launch in Edinburgh in 2021, they’ve “matched 11,000 students to properties, grown our users to over 300 agents and 15,000 students, and expanded throughout the UK including London, Glasgow, Manchester & more.”
They’re also pleased to “now be a team of 7 people, who have been key for the development of our platform.”
Boasting over 10,000 agent and property reviews, they’ve been “recognized as the ‘Best Student Accommodation Rentals Platform 2022’ by IT Awards & UK Enterprise Awards.”
The firm’s management added:
“With 2.6m landlords and 2.3m student tenants in the UK and the Purpose Built Student Accommodation sector evolving by 2030, we’re fundraising to take our share of the opportunity by developing a new app & website, making key hires from engineering to marketing, acquire more PBSA agents and a new office.”
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