Halo.rent, the British ‘Airbnb of home rentals’ bags £1.25M funding

Halo.rent Image credits: Halo.rent

The property rental process is very fragmented. Once tenants discover properties on classified ads portals, their digital journey comes to an end. Keeping track of the disparate apps designed to coordinate and ease home rentals is a struggle. Typically, the whole experience involves a time-consuming process of email and phone communications.

This is where London-based proptech startup Halo.rent comes to the rescue. It automates operations and communications with AI and makes the entire process stress-free and transparent. The company just launched its tenant engagement platform to make renting faster and easier. Now, the platform is open for all after field testing with leading UK property managers. Also, it bagged £1.25 million pre-seed funding from angel investors and the European Commission.

One-stop solution for tenants

Halo.rent was founded by Benas Baltramiejunas,Pijus Bratčikov, and Kipras Gajauskas in 2018. Unlike a property management system, Halo.rent is a tenant engagement platform that enables agents and property managers to unify their services and partner offerings into one digital tenant experience.

The app aggregates all the individual service providers, including existing property management systems, smart deposit services, utility switching companies, credit checks, and referencing into one engaging and intuitive platform. As a result, agents benefit from a whopping 90% reduction in administrative tasks. Also, they gain exposure to additional revenue streams through a curated marketplace of service providers who offer commission payouts. With this app, tenants can rent homes within just a few clicks and get all their home services handled in one platform.

Halo.rent has worked with a small group of senior advisors, including Alvaro Bolivar, Ivan Gowan, prof. Andrew Baum and Nick Jopling. The technology has been successfully tested in six months with a number of smaller letting agents in the market. Recently, the company started testing it with larger operators – FirstPort and High Street Group.

“Halo.rent is helping to change the rental market for good,” said prof. Andrew Baum. “I believe its technology-driven service layer will become a market standard in the coming years. It’s a game-changer for both letting agents and larger property managers.”

“Today, tenant rental journeys are broken and frustrating due to fragmented and outdated software environments,” said Benas Baltramiejunas, co-founder and CBDO at Halo. “Our mission is to make renting a home seamless and fun! We’ve modernized the process, and we’re seeking to create a one-stop-shop for the 135m (and counting) renters in Europe.”