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Lettings portal offering reference service bags £350,000 new investment

A portal which allows renters to review their lettings experiences and which encourages agents to buy and download tenants' references has raised over £350,000 in a crowdfunding exercise.

Movem exceeded its initial crowdfunding target thanks to 339 investors using the Crowdcube platform; the portal is now said to be valued at £2.4m.

Movem was set up in 2013 while its founder, Peter Ramsey, was still at university. Now it carries a range of reviews, including those of around 200 lettings agency branches.

The site encourage renters to set up and maintain a 'passport' which includes a reference, payment history and other personal information.

A restricted version of the passport will be open to agents and landlords to view, for a fee, in a bid to make referencing easier and quicker.

The site now carries information from tenants and agents in over 50 cities, while more than 90 universities across the UK use it to help students find accommodation.

Now the site is keen to extend into the mainstream lettings market.

Poll: Would you trust a portal to give you a reference for a tenant?

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