A start-up that has designed an app dedicated to renters searching for a new pad in London has won £1.1m backing from a group of investors including the former boss of Spotfify.
Movebubble, which launched in November last year, lists thousands of properties available in the capital whilst also helping renters to book and manage viewings. The app allows people to give feedback on properties and offers guides on different neighbourhoods, such where to dine out or what to visit.
It also crucially claims to offer real-time availability of the properties listed through the app to save people from visiting a property only to find out by the time they contact the landlord or estate agent that it has already been let.
The property tech start-up said the latest funding takes total investment in the business to date to £2.36m and will be used to build the in-house team. The investors included Spotify's former managing director Adam Williams and the founder of asset management firm London and Capital Richard Leigh among others.
Aidan Rushby, a former estate agent who founded the business, said: “We are delighted to have secured such funding from a number of high profile investors. This will enable us to really improve the product and help make renting better for thousands of people.
“We fully believe that Movebubble will transform the lives of renters on the property hunt by offering transparency, sharing capabilities and ultimately saving them huge amounts of time and hassle.”
Movebubble is not the only property tech start-up to enjoy some extra attention this week after Zoopla announced it was backing four new firms including peer-to-peer lender Landbay and online mortgage provider Trussle with £1m of funding.