Alex Eid, founder and CEO of Homie
Homie, a London-based tech start-up which has developed an online search platform for renters, has raised £2.8m in seed funding.
Homie, London’s new home search platform for renters, has announced that it has raised £2.8m in seed funding, bringing the total to date to just under £4.3m.
The latest funding round was led by Connect Ventures and supported by a host of other investors including Seedcamp, Venture Friends and The Family.
Founded in 2016 by Alex Eid, Homie is rewriting the renter’s rule book by assigning every renter a personal home finder, known as a “Homie”, who uses their proprietary aggregator platform to search the market and match renters with their ideal homes.
Rather than renters wasting hours looking through traditional rental websites, which are often known for clickbait listings, a Homie does all the research for the renter’s exact specifications and removes the need for them to deal with multiple estate agents.
The Homie then acts as the renter’s private agent, accompanying them on an all-inclusive cab journey across London to visit up to 10 homes in a two hour tour, whilst offering unbiased advice on the area.
Research from the ambitious start-up revealed that London’s renters were wasting up to 20 hours a month on researching homes alone and spending a further five hours at least attending scattered property viewings.
Alex Eid, founder and CEO of Homie, said: “This new investment represents an incredible opportunity for us to further develop our tech platform and team without compromising on any of the personal aspects of Homie that make it so unique.
“Our vision has always been to make London’s rental market faster, more transparent and easier to navigate whilst delivering a personal service.”
Sitar Teli, managing partner at Connect Ventures adds: “The home rental experience has had little innovation on any front.
“As a Londoner who has been through the process of finding a flat to rent 5 times in 8 years, I know the problem Homie is solving first hand several times over.
“Homie is changing the experience end-to-end, using data and software to make the experience significantly more efficient and enjoyable.
“At Connect, we look for the rare companies that use technology to change a user experience from terrible to delightful, and we’re excited to be backing Homie to do this for renters on a much larger scale.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement