Tenant due diligence PropTech platform secures £1m new funding

A PropTech platform which uses Open Banking to help with tenant due diligence has raised another £1m in funding.

Homeppl - which boasts Carter Jonas, JLL, Chestertons, Knight Frank and Build To rent companies amongst its clients - says this new investment raises the platform’s value to around £10m.

This latest round has been led by two established global venture capital investors, Hong Kong based VC ParticleX and Venionaire Ventures, on behalf of European Super Angels Club.

Alexander Siedes, the chief executive says: “This funding provides strong vindication of our proposition and the impact we are having on the market, bringing huge value to tenants, landlords and agents alike. The team … are acutely aware of the problems renters and landlords face which is why we are determined to change the way things are done for the better. That is exactly what this investment is all about.

“We have raised double what we expected, which will enable us to innovate and grow faster than we could have anticipated. Most immediately, we will soon be launching into several European cities, and I am grateful for the support from our investors as this will enable us to springboard into the next chapter.”

So far in 2021 alone, Homeppl claims it has protected its clients from potential losses of more than £3m from rental fraudsters.