Movebubble, London’s number one property rental platform, today announces that it has raised £824,987 in funding, thanks to its successful equity crowdfunding campaign on Seedrs.
Movebubble set their funding target on Seedrs at £800,002, however in total they raised £824,987, attracting more than 400 investors from 24 countries.
The funds raised will be used to continue its rapid expansion in London and product development programme, in order to meet the unprecedented growth that has arisen from the exponential rise in house prices, particularly in the capital, that has resulted in a rental boom. The UK rental market is expected to increase by 33%, by 2025, creating 7.4 million rental households; a huge market opportunity for Movebubble.
Movebubble is on a mission to make renting better. Starting with the 2 million renters in London, the mobile app connects renters to agents and large developer landlords, ensuring a hassle-free process of finding the right property. Renters using the app can get a response in minutes, schedule viewings, share feedback with the community and search for properties that are updated in real time. The platforms algorithm learns and adapts to users’ preferences and needs, providing more tailored results as it gathers further behavioural information. In less than 24 months, Movebubble has already connected over 150,000 renters with properties, helping thousands of renters move in the capital each month.
Movebubble Co-founder and CEO, Aidan Rushby, said: “Movebubble was created with the renter in mind in the hope of addressing some of the major inefficiencies that persist within the sector. With the UK rental market booming at an unprecedented rate, we are confident Movebubble can tap into a huge potential market and be instrumental in creating the next generation property platform. We are delighted by the response we’ve received to our first crowdfunding campaign and look forward to welcoming this new group of investors, and hopefully advocates and potential renters, on this journey with us.”