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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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).<\/p>\n
Discussing his win, Georgeson said: “To win the first one was just unbelievable, as a person and a business.<\/p>\n
“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”.<\/p>\n