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Student rental startup Housr eyes US expansion with funding boost

Housr founders
Image credit: Housr

Housr, a startup that has created a property app for students and landlords, is eying US expansion after securing £1.5m of a targeted £5m round.

Housr has built an app for students to find rental properties, book viewings, along with managing bills and maintenance.

The portal provides management tools for property owners, who are paid £120 to list their property on Housr in return for using its billing platform. It claims to have 45,000 properties listed on its platform.

The startup is aiming to secure a total of £5m, with 30% of that already secured through equity funding led by venture partner Bachmanity and angel investors.

“The latest generation of students demands this level of digitisation from the sector, and until now the archaic industry has been unable to provide it,” said Panter, who is the CEO of Housr.

“Our ethos – built by students for students – serves this group. We understand what truly resonates with them. Our introduction of rapid peer-to-peer rentals will change how students find housing, making it cheaper and more efficient for all involved.”

Housr said it will use the growth funding to expand its headcount from 26 to 45. It will also launch in six UK cities and seven in the US.

Four of Housr’s 26 staff are based in the US, including company president Craig Joseph.

The Manchester-based firm said it is forecasted to have 30,000 users by January and break even in July 2024 on projected recurring revenue of £2.4m over the next 16 months.

Company accounts covering up to 30 April 2022 – the most recently available documents – show Housr has net assets of just under £13,000.

Housr has previously raised £1.2m.