Homeppl, a UK-based Proptech, has raised $1.4 million in funding round at a post-money valuation $13.5 million. This most recent funding brings total seed capital to over $5 million.
Homeppl combines anti-fraud technology with Open Banking data to protect landlords from tenant fraud, and ensure tenants are not discriminated against and can access the properties they deserve. Homeppl reports that during 2021 it has protected its clients from potential losses of more than £3 million.
The money is expected to bring the company to the next phase of growth for the business as it moves towards its Series A round.
The funding round was led by two venture capital investors, Hong Kong-based VC ParticleX and Venionaire Ventures, on behalf of the European Super Angels Club.
Mingles Tsoi, CXO at ParticleX, commented:
“We’re thrilled to be supporting Homeppl through their next stage of growth. Homeppl’s proposition is compelling and we’re confident that Alexander and the senior team will continue to move in an exciting direction. The adoption of PropTech is urgently required to transform the way real estate industry operates and improve work efficiency, while at the same time, creating value and reducing risk.”
Berthold Baurek-Karlic, Managing Partner at Venionaire Capital and President of European Super Angels Club said ths company has “everything needed to become a unicorn one day.”
Alexander Siedes, CEO and co-founder of Homeppl, said:
“This funding provides strong vindication of our proposition and the impact we are having on the market, bringing huge value to tenants, landlords and agents alike. The team at Homeppl are acutely aware of the problems renters and landlords face which is why we are determined to change the way things are done for the better. That is exactly what this investment is all about. We have raised double what we expected, which will enable us to innovate and grow faster than we could have anticipated. Most immediately, we will soon be launching into several European cities, and I am grateful for the support from our investors as this will enable us to springboard into the next chapter.”
Homeppl said it plans to double its team of 30+ professionals within the next year.