In a recent development, UK’s property discovery platform, Crowdhaus raised £162,500 pre-seed funding led by SFC Capital to fuel its growth plan. In total, Crowdhaus have secured just under £200,000 in the pre-seed funding round.
New age to the property discovery
Crowdhaus is a property discovery app, which allows users across London to find homes to buy and rent with a swipe-based user interface. Crowdhaus also enables social property searching, including the ability to create ‘groups’ with fellow household members to privately discuss, feedback and rank relevant properties – replacing the need to manage inconvenient WhatsApp links and disjointed chats.
How will the company use the funding?
Crowdhaus’ core mission is to change the way people interact with property, whether that be for those looking to rent, buy, or simply ‘dream search’.
Alongside giving further runway to the business, the SFC investment will enable the team to focus on four primary objectives:
- Building out the iOS app that launched in February of this year
- Developing Crowdhaus for other platforms (including Android)
- Onboarding key hires to drive user growth
- Forging new partnerships, and expanding on those with others, including specific Winkworth branches
2020 was a crucial year in Crowdhaus’ journey, with the Government-funded Geovation accelerator programme providing the company with early stage funds and the support needed to bring the founders’ ideas to life. This was followed by a successful Innovate UK Smart Grant application, which helped the team turn the MVP into a scalable platform and implement their property matchmaking algorithm – which is set to deliver this quarter.
Expanding partnerships in home moving funnels
This funding will enable the business to go out and explore partnerships in the home moving funnel, having just completed a successful trial with a Winkworth lettings & sales branch in Kensal Rise, London. The team is confident that the support from SFC will open doors to further investment and investor confidence, which will no doubt prove crucial in an important year for Crowdhaus’ growth. By accelerating product development, Crowdhaus is set to become the new home for property discovery, social home searching and for a nation of dream-searchers.
Conan Osborne, co-founder of Crowdhaus, said: “We are really excited to join the SFC Capital portfolio. With an amazing team building the product in house, it’s such a boost to gain the support from one of the most recognisable names in the early stage VC space. We are looking forward to combining our ambitions with their start-up expertise to take the business to the next level. Our vision is to become the go-to property discovery platform for a digitally native audience.”
Edward Stevenson, Investment Executive at SFC Capital, noted “SFC were delighted to have led Crowdhaus’ latest funding round. The team is working on a fantastic product that is aimed at a significant section of the market that is currently inadequately served by the current solutions. We are excited about what the future holds for the company, in a space that is crying out for change”.