Student lettings app used by agents backed by US investors with £7.5m
Two big Texas-based funds have invested in Housr, which has grown rapidly from a Manchester firm to operating in eight UK cities and the US.
A lettings tech platform for students based in Manchester has raised £7.5 million in Series A funding from major US backers.
Housr, which operates largely through a free-to-use app, is the brainchild of founders and former studentsBen Clayton anmd Harry Panter (main pic, LtoR) and they are to use the money to develop its tech, hire talent and expand both in the UK and overseas.
The two Texas-based private investment firms involved are Ashta Capital and Juniper Equity. Both were attracted by Housr’s eye-popping growth which has seen revenue jump by 186% year-on-year.
Housr initially expanded within both Manchester and Birmingham working with letting agents and landlords, the latter of which are paid £120 per property to advertise their student homes on its app. The firm also offers letting agents a platform to manage their student homes.
The app also entices students to use its app via reduced rent deals, free pizzas and drinks. Two years ago it had 30,000 students using its app but now expects, following the new investment, to have a million on board by the end of next year.
Cities
It now operates in eight UK cities including Birmingham, Manchester, Leeds, Nottingham, Exeter, Cardiff, Swansea and Leicester.
“The market is rapidly shifting towards demand for an all-in one, student OS [operating system], with the home at the heart of everything, and our platform is uniquely positioned to capitalize on that demand,” says Panter.
Eric Priamo of Juniper Equity adds: “The university market is massive, especially here in the US, but really globally, because that’s where Housr has the opportunity to go.”
Read more about Housr.
