The London-focussed rental app Movebubble has revealed major new investment from Build To Rent developer Quintain, which is taking a 10 per cent share in the PropTech business.
With Movebubble, prospective renters enquire on properties via an app; letting agents get an instant message and can set up a viewing, offer other available properties or answer any other questions. The renter then leaves a review allowing agents to build up a rapport and star rating similar to that on the Uber taxi system.
The deal marks the first institutional funding for Movebubble, which launched in 2014; both it and Quintain say they believe this investment “will result in a real improvement in the leasing experience and will continue to drive awareness of the Build To Rent sector amongst UK renters.”
Aidan Rushby, chief executive of Movebubble, says: “We are extremely excited to have partnered with Quintain to accelerate our growth. Investment from such a well-respected developer and Build To Rent operator validates all the hard work we have put in, as well as our vision for the company and how we’re looking to change the sector. We’re building a brand specifically for renters that they trust and is really resonating with them.”
And Rajesh Shah, executive commercial director at Quintain, adds: “Quintain and Tipi are emerging as market leaders in the Build To Rent sector; the sector needs platforms such as Movebubble to expand, succeed and connect directly with the renting population in the UK.”
Movebubble says the extra funding will enable it to further develop ‘Movebubble One’, a product developed specifically for the Build To Rent market.