Student housing platform University Cribs clinches £450,000 seed funding round
Startups 100-featured search engine for university accommodation will invest in platform to explore new revenue streams for services in student households
University Cribs, the Startups 100-featured online platform for student property rental, has announced the completion of a £450,000 seed funding round from a number of angel investors including Raffaelle Russo, director of Loc8Me; Dave Harvey & Tom Paine, co-founders of TeamLove; and the co-founders of Thor Companies.
Founded by university friends Jack Jenkins and Dan Jefferys, alongside Christian Samuel, University Cribs is a search engine that helps simplify the process of finding accommodation for students and enables letting agents, developers and asset managers to fill spaces and boost sales.
Launched in November 2016, the company now operates in 27 cities across England and Wales, with over 120,000 rooms listed to date and 5.3% of users going onto make an agent enquiry.
This latest funding will be used for further investment into the University Cribs technology platform, opening up new revenue streams to provide shared services to student households.
Jenkins commented: “Dan, Christian and I are thrilled to have the backing of established entrepreneurs and business leaders within relevant industries – ranging from UK property to student leisure.
“As the university term starts across the UK, we want to offer students the easiest and most hassle-free route to rental. Today’s investment allows us to push ahead with our plans, and make the most of the forthcoming academic year when over two million students will be considering their accommodation options for the years ahead.”
Paine said: “The student property market is ripe for disruption. University Cribs is bringing much-needed transparency to the market, and the three founders have taken a smart approach to thinking about what value-added services they can bring to the student market.
“They have built a nifty technology platform, and have built a trusted brand for the marketplace to allow them to offer more services in the future. I’m thrilled to be on board as an investor – it’s going to be an exciting journey from here.”