Plentific closes £2m as proptech sector gains pace
Home services marketplace is one of several property start-ups to secure funding of late as it looks to tap into the £235bn home improvement sector
Plentific, the Startups-100 listed marketplace connecting homeowners with tradesman, has secured £2m in a round which involved London-based property accelerator Pi Labs and a number of angel investors.
Launched in March 2014 by Cem Savas and Emre Kazan (pictured), London-based Plentific is a free online service which lists over 75,000 professionals across the UK and enables homeowners to collect and compare quotes from these professionals for over 350 services.
In just two years, the start-up has agreed partnerships with Zoopla, Primelocation, and Planning Portal, and claims that professionals listed on the site can build up an online presence to potentially attract 50 million page views.
It intends to use the investment, which takes its total funding to almost £3m, to develop additional features to capitalise on Europe's £235bn home improvement market and to increase its marketing efforts.
Investor appetite for the property technology market is swelling with Plentific one of many UK start-ups to have secured finance in the last six months. In May “Transferwise of the rental market” goodlord closed £2m seed funding, while in June online estate agencies Yopa and HouseSimple secured funding totalling £29m.
Plentific's Savas commented: “We’re delighted with this investment which allows us to continue evolving our product and to start stretching our marketing legs. We are driven by making home improvements better value by removing the hassle of back-and-forth phone calls, protecting consumers identity, scheduling, sourcing quotes and payments, so people can focus on getting the work done.”
Dominic Wilson, managing partner at Pi Labs, continued:
“The home services market is a key investment theme for Pi Labs given the strong European consumer fundamentals and Plentific’s speed of product development and calibre of partnerships were decisive factors in our involvement.”