The UK-based rental platform has successfully surpassed its £800,000 funding target from more than 380 investors on equity crowdfunding platform, Seedrs.
A total of £828,059 was raised by Movebubble from investors from over 24 countries. The funding round began in April.
The Movebubble mobile app connects renters to agents and large developer landlords, ensuring a hassle-free process of finding the right property. Renters using the app can get a response in minutes, schedule viewings, share feedback with the community and search for properties that are updated in real time. The platforms algorithm learns and adapts to users preferences and needs, providing more tailored results as it gathers further behavioural information.
The money raised from this funding round will be used for product development and expansion in London.
Movebubble has already acquired £2.6m in funding since its launch in 2015, including investment from Spotify’s former managing director, Adam Williams, and the founder of asset management firm London and Capital, Richard Leigh.
Aidan Rushby, founder and CEO at MoveBubble, said: “Movebubble was created with the renter in mind in the hope of addressing some of the major inefficiencies that persist within the sector. We work with a number of fantastic agents across London, and the purpose is to promote the best ones in order to make sure the majority of the properties are managed by the agents who treat renters well.”
Thomas Jozefacki, chairman and existing investor, commented: “I have been delighted with the Movebubble team since my initial investment and I see a real demand in the market for their product as evidenced by the strong interest already. I am confident that Movebubble will continue to go from strength to strength, and fully support them in their vision to make renting more transparent, straightforward and enjoyable.”
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