London rental platform, Movebubble, has launched an £800k equity crowdfunding campaign for expansion and product development
London rental platform, Movebubble, has launched an £800k equity crowdfunding campaign on Seedrs to help fund its expansion and product development. Starting with the two million renters in London, the mobile app connects renters to agents and large developer landlords to help find 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 platform provides more specific results according to user preferences and needs as it increasingly gathers data on user behaviour.
Movebubble recently unveiled its new feature; partner agent rankings. With 92% of rental enquiries unprocessed, the league table uses data to rank Movebubble’s top 200 agents by how long they take to respond to renter queries, how often they respond and the rating given to them by renters out of five.
The table has found that top agents typically respond within one hour, have a 100% response rate, and a renter rating of five stars. On the other hand, the longest response time in the table is one week with an 8% response rate.
Movebubble noted that there has been a rental boom due to rise in house prices, which is particularly noticeable in the capital.
As the UK rental market is expected to increase by 33%, creating 7.4 million rental households by 2025, Movebubble will be using proceeds from the Seedrs campaign to continue its expansion and product development programme.
Founder and chief executive officer at Movebubble, Aidan Rushby said Movebubble was created with the renter in mind in the hope of addressing some of the major inefficiencies that persist within the sector.
Movebubble works with a number of fantastic agents across London, and the purpose of its latest ranking product 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.
It is excited to invite both its community and Seedrs investors to share in a part of this and be instrumental in creating the next generation property platform.
Chairman and investor, Thomas Jozefacki commented that he has been delighted with the Movebubble team since his initial investment and sees a real demand in the market for their product as evidenced by the strong interest already.
He is confident that Movebubble will continue to go from strength to strength, and fully supported them in their vision to make renting more transparent, straightforward and enjoyable.
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