Rental platform Movebubble takes total funding to £1.35m
Startups 100 listed company receives additional £900,000 investment from private equity investors
Movebubble has raised an additional £900,000 from UK private investors in its second round of funding – bringing its total investment to £1.35m.
The peer-to-peer property rental platform, which launched in March, was set up by Aidan Rushby, Logan Hall and Tony Edwards after the three claimed the “out-dated and inefficient letting industry” needed a new model.
Movebubble works as a collaborative rental platform that consists of owners and renters, and uses technology to replace the role usually filled by property agents.
Listed in our prestigious Startups 100 index this year, the platform allows its community of users to list property, schedule viewings, complete rental agreements and pay their rent from anywhere in the world. Currently free for property owners, renters pay a one-off £50 fee to reserve a property and the founders plan to create additional revenues streams via an online marketplace that covers services such as energy, maintenance, media, insurance, and inventory and deposit management in the future.
Now, after its funding success, the young company, which was featured in our Just Started section a few months ago, plans to launch internationally with an aim to go live in two or three international cities in the next 12 to 18 months.
Commenting on its innovative proposition which offers a transparent system for both renters and property owners, Hall said:
“Movebubble offers a range of free tools for property owners that will let them rent and manage a property from anywhere in the world. We give access to information and services currently monopolised by letting agents and reference services, in a way that’s better suited to Generation Rent – renters who are used to managing most of their lives online.