Housemate-matching platform Ideal Flatmate raises seed funding
The start-up will use the fresh injection of funds to accelerate its business plan, fast-track recruitment, grow user numbers, and further develop its site
Housemate-matching platform Ideal Flatmate has successfully closed a seed funding round to take its total amount of funding to £500,000 to date.
Lead investors in the round included Steve Leach, founder of Bigmouthmedia and chairman of Fetch Media and David Pollock, founder of Greene & Co.
Founded by Tom Gatzen and Rob Imonikhe, and launched in January, Ideal Flatmate uses a bespoke algorithm to match potential housemates based on their compatibility.
Users are given a 20 question survey upon registration, which accesses data on personality, lifestyle and sociability.
Once completed, the survey matches them with other suitable potential flatmates who they are then free to message and find properties with.
Should they make a collective offer for a property, the landlord will also get to see the user profile and, as a result, gains full transparency of the potential tenants.
Featured in our Just Started section last May, the duo’s lightbulb moment came from shared experiences of dodgy flatmates and frustrations while renting accommodation with strangers.
Imonikhe was forced to move out of a previous flat he rented because a secret relationship between two of his fellow tenants ended badly – turning the atmosphere toxic.
The start-up will use the fresh injection of funds to accelerate its business plan, fast-track recruitment, grow user numbers, and further develop the site.
Since its launch in January, the site has reached an average of 25,000 monthly users, more than 15,000 people have registered as a flathunter on the site and over 2,000 properties have been listed – with registrations set to hit 150,000 by the end of 2018
“The range of investors who are backing us in this round is incredibly exciting and gives us a huge amount of confidence. To have surpassed our initial target is also a big plus and means we can accelerate our growth plans.
“I can’t wait to continue to improve the site and take our idea out to a far wider audience!”
“For us, it’s always been about personalities, not just properties. The latest round of developments will enhance the user experience considerably. We’re enormously encouraged by the reception we received from the investor community and now are focused on delivering on our targets.”