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TODAY'S OTHER NEWS

PropTech lettings viewings service tells investors it's valued at over £2.8m

A PropTech lettings platform is claiming to be valued at over £2.8m.

Inadash describes itself as an “on-demand marketplace” which via an app and a website allows tenants and agents to connect as properties are listed as available to rent.

“Within a couple of clicks, renters can seamlessly browse available properties and book viewings either immediately or for a preferred time in the future. Meanwhile, agents gain access to a wealth of smart data through a feature-rich but easy-to-use dashboard, allowing them to identify trends and track their key performance indicators” says Inadash on the crowdfunding website Seedrs.

The platform says it wants £350,000 new investment in return for 11.06 per cent of the equity, and in its pitch it says it “saves renters and agents precious time.” 

In the pitch, it says it’s valued currently at £2,813,993.

It continues: “Our team has years of experience in the market. We built this platform to put people back at the centre of the property renting process, to make a stand against the status quo and introduce the simplicity and security the industry has been lacking for so long.”

Valuations of property-related companies on crowdfunding sites was thrown into the spotlight last year when Emoov - under its previous ownership, led by Russell Quirk - revised its own company valuation from £104m to £51.8m at the end of a successful crowdfunding exercise on Crowdcube. 

This was within a cooling-off period when investors could review their investment and change their mind if they wish. 

Such a tactic is legal and Crowdcube told Letting Agent Today that this was not unusual; nonetheless it raised eyebrows amongst some investors who felt they could have been told more about the company’s finances at an earlier stage.

You can see the Inadash pitch here.

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