HouseME, a South African prop-tech startup, has raised a fourth round of funding from both new and current investors, who are helping the company to develop its position in the digital letting industry.
Founded in 2015 and made open to the public by the end of 2016, HouseME is a digital network that links prospective tenants to landlords with full letting agency process automation, and fair and clear rental pricing – all for a fraction of conventional fees.
With its final round late last year, the company took its overall secured investment to US$ 3 million, and has now added a further undisclosed sum to that. Chief Executive (CEO) Ben Shaw said HouseME was well positioned to capitalize on the rise in interest in online platforms , especially in the lagging long-term letting market.
“This new investment round coincides with our three-year anniversary at work. After having recently completed work on our enhanced user interface, we ‘re continuing to gear up, “he said.
HouseME now has a user base of over 150,000, which marks a significant increase year-on-year, and Shaw said it had benefited from the transition to online.
“The number of units advertised on our site has risen significantly since the beginning of the year, powered by larger portfolios of properties – many of which are now moving digital, finding a long-term letting platform ‘s cost-efficiencies. We’re also seeing growing interest in our risk reduction items such as the rental guarantee as a result of the new standard,’ he said.