RentalStep crowned winner of October’s Start-Up Series
Online property rental platform will use £150,000 prize money to invest in website development and marketing
RentalStep, an online property rental platform, has been announced as the winner of October’s Start-Up Series competition, securing £150,000 from Worth Capital.
Founded by Mike Georgeson, Liverpool-based RentalStep is a collaborative platform aiming to make life “easier, simpler and less costly” for both tenants and landlords. Both parties can leave reviews of each other to help inform users’ decisions.
Tenants are also able to build a TenantPassport, which shows their rental history and TenantScore all in one place and can even improve their credit score with every punctual payment.
This is the third venture for Georgeson, who has 15 years of experience developing websites applications. While he grew his first two ventures organically, the entrepreneur decided to use a different approach for RentalStep and sought funding straight away.
After his application was successful, the entrepreneur had to submit a detailed business plan and take part in a video interview with Worth Capital. Finally, Georgeson had to pitch RentalStep to a panel of judges in a half day Dragons’ Den-style event.
Georgeson has said he will invest the finance in website development and marketing, ahead of the launch of RentalStep’s tenant-focused operations later this month and its landlord operations in July.
The Start-Up Series is a monthly competition giving early stage UK companies the chance to win £150,000 in equity seed funding from a £1.8m Seed Enterprise Investment Scheme (SEIS).
Discussing his win, Georgeson said: “To win the first one was just unbelievable, as a person and a business.
“We want to be leading a rental revolution,” he added. Through “transparent, open and friendly” branding, he intends for RentalStep “to become a trusted voice for tenants and landlords […] known as the intermediary looking after both parties, making sure everyone’s getting along not fighting against each other”.
Enter The Start-Up Series March completion here now!