London rental platform launches £800k equity crowdfunding campaign
Movebubble, the London-based property rental platform, launched an £800k crowdfunding campaign on Seedrs to help fund its expansion and product development.
Starting with the two million renters in London, the mobile app connects renters to agents and large developer landlords to help find 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.
Movebubble recently unveiled its new feature; partner agent rankings. With 92% of rental enquiries unprocessed, the league table uses data to rank Movebubble’s top 200 agents by how long they take to respond to renter queries, how often they respond and the rating given to them by renters out of five.
The table has found that top agents typically respond within one hour, have a 100% response rate, and a renter rating of five stars. On the other hand, the longest response time in the table is one week with an 8% response rate.
Movebubble noted that the rise in house prices, particularly in the capital, has resulted in a rental boom.
The UK rental market is expected to increase by 33%, by 2025, creating 7.4 million rental households. Therefore, Movebubble will be using proceeds from the Seedrs campaign to continue its expansion and product development programme in order to meet this growth.
Aidan Rushby, founder and chief executive officer at MoveBubble, said: “Movebubble was created with the renter in mind in the hope of addressing some of the major inefficiencies that persist within the sector.
“We work with a number of fantastic agents across London, and the purpose of our latest ranking product is to promote the best ones in order to make sure the majority of the properties are managed by the agents who treat renters well.
“We are excited to invite both our community and Seedrs investors to share in a part of this and be instrumental in creating the next generation property platform.”
Thomas Jozefacki, chairman and investor, commented: “I been delighted with the Movebubble team since my initial investment and I see a real demand in the market for their product as evidenced by the strong interest already.
“I am confident that Movebubble will continue to go from strength to strength, and fully support them in their vision to make renting more transparent, straightforward and enjoyable.”