A Spanish smartphone app that enables tenants to meet up online and rent properties together via a ‘Tinder’ style matching platform has raised a further £24 million to develop and expand its service in the UK and beyond.
Based in Barcelona, the extra cash has come from the same US investors behind challenger bank Monzo and Facebook.
Called Badi, the app claims to streamline the process of finding roomies to share homes with by enabling them to complete a ‘matchmaking’ process via the app and apply for properties to rent.
During the initial part of the process, tenants reveal information about their lifestyles and ideal property and roommates. They are then matched via a Tinder-style app, after which connected tenants can chat together before house hunting.
In the UK Badi says it want to take market share from both more established rivals such as SpareRoom.com as well letting agents and Rightmove.
The new cash brings Badi’s total raised so far to over £35 million.
Launched in April last year, the app says it already has 40,000 users in London and currently offers over 100 properties. It has also set up in several other European cities including Rome, Madrid and Milan.
Badi has already been going for over three years in Spain and was founded by entrepreneur Carlos Pierre who graduated in 2014, worked for PWC as an auditor and then launched Badi in September 2015.
“In every big market there are classic room renter platforms,” he says. “The thing that we are offering is the user experience.”