A leading home setup firm has revealed that it is on track to process some 400,000 home moves this year in the UK after announcing that it has secured £6.34 million during its latest funding round.

The Bournemouth-based company says it also aims to become Europe’s first ‘unicorn’ in the home-moving market, namely a firm with a valuation of £1 billion.

Just Move In was launched in 2015 to make it ‘easier, simpler and less stressful’ to move home and its early backers included Simon Rogerson and Chris Hulatt, founders of City investment giant Octopus Group.

The company says its business is expanding exponentially despite the challenging economic environment in part because those moving home either when buying or renting face the tedious task of transferring or setting up new utilities and bills such as council tax. It also claims that the comparison sites offer a ‘fragmented and time-consuming’ process.

Funding round

The new money has come from a funding round led by Eos Ventures, with participation from Wayra (the innovation arm of Telefonica), Second Century Ventures, the backers of Updater, a comparable American company in the Home Setup space, and continued support from The FSE Group (through the South West Investment Fund).

Just Move In has several significant industry and non-industry clients and connections including OpenRent, Hamptons, Houseful’s software platform Alto and van hire firm Anyvan.

“We’re thrilled to have the support of such incredible investors as we expand our vision,” says the firm’s co-founder Ross Nichols (main image, right with Tom Old, the firm’s other co-founder)

“With Eos Ventures’ expertise in financial technology, we’re well-positioned to provide complex services delivered in a straightforward way, helping people throughout their lives,”

The future

James Tootell, Partner at Eos Ventures, says: “Just Move In’s innovative approach to combining home services with financial products represents the future of consumer-focused FinTech.

“Their remarkable growth, coupled with the ability to consistently broaden their service offerings while maintaining industry-leading customer satisfaction, showcases the team’s exceptional strategic vision and operational excellence.”