We've completed a $1.4 million funding round to expand our customer base, drive innovation and support international growth
We have successfully closed another funding round to support our growth trajectory. The funding marks the second seven-figure raise in the last 8 months and brings our post-money valuation to $13.5 million.
We combine anti-fraud technology with Open Banking data and behavioural analysis to protect landlords from tenant fraud, and ensure tenants are not discriminated against and can access the properties they deserve. In 2021 alone, we protected clients from potential losses of more than £3 million.
This investment will drive the next phase of growth as we move towards our Series A round. We have been oversubscribed in recent months and this funding will be used in the short-term to address this, expand our client base and team, drive continued product innovation and R&D while building out an international offering.
The round has been led by two established global venture capital investors, Hong Kong based VC ParticleX and Venionaire Ventures, on behalf of European Super Angels Club. The latest capital raise brings our total seed funding to over $5 million.
Commenting on the investment, Mingles Tsoi, CXO at ParticleX, said: “We’re thrilled to be supporting Homeppl through their next stage of growth. Homeppl’s proposition is compelling and we’re confident that Alexander and the senior team will continue to move in an exciting direction. The adoption of PropTech is urgently required to transform the way real estate industry operates and improve work efficiency, while at the same time, creating value and reducing risk."
Berthold Baurek-Karlic, Managing Partner at Venionaire Capital and President of European Super Angels Club added: “The entire team and I are very proud to become part of Homeppl’s growth story, particularly at such an exciting stage in the company’s life cycle. Alexander and the team are extremely passionate about the work they’re delivering and its unique technology for the rental market. This company has everything needed to become a unicorn one day.”
Alexander Siedes, our CEO and co-founder, explained: “This funding provides strong vindication of our proposition and the impact we are having on the market, bringing huge value to tenants, landlords and agents alike. The team at Homeppl are acutely aware of the problems renters and landlords face which is why we are determined to change the way things are done for the better. That is exactly what this investment is all about.
“We have raised double what we expected, which will enable us to innovate and grow faster than we could have anticipated. Most immediately, we will soon be launching into several European cities, and I am grateful for the support from our investors as this will enable us to springboard into the next chapter.”