Rental app Homie raises $4m

Of late, the news is filled with stories on the archaic way in which the UK’s home rental industry is operated. In need of a tech injection, it seems that with the launch of Homie; the home rental revolution has finally arrived.

This week, the firm has announced that they have successfully conducted a $4m investment round. This takes the company’s total investment to $6m.

Being the company’s second funding round, the round was led by Connect Ventures. The business also saw funding support from a range of investors. These included Seedcamp, Venture Friends as well as The Family.

So, what does the app actually do? According to its creators, its technology allows people who are looking to relocate access a pool of options.

Thrilled to see the business take such a huge leap forward was its CEO, Alex Eid. Talking following the closing of the round, he 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” he continued.

Sitar Teli, managing partner at Connect Ventures, who played an active role in the round, said:

“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 five times in eight 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.”

Let us know what you think about this app; will people really make use of it?