British Proptech Business Homeppl Completes Seven-figure Funding Round

Homeppl, the UK-based tenant due diligence and guarantee technology business, has successfully closed another funding round to support its growth trajectory. The funding marks the second seven-figure raise in the last eight months and brings its post-money valuation to $13.5 million.

The fast-growing technology business combines anti-fraud technology with Open Banking data and behavioural analysis to protect landlords from tenant fraud, and ensure tenants are not discriminated against and can access the properties they deserve. In 2021 alone, Homeppl has protected its clients from potential losses of more than £3million.

The investment will drive the next phase of growth for the business as it moves towards its Series A round. Homeppl has been oversubscribed in recent months and this funding will be used in the short-term to address this, expand the firm’s client base and team, drive continued product innovation and R&D while building out the international offering.

The 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. The latest capital raise brings the total seed funding to over $5 million.

Commenting on the investment, Mingles Tsoi, CXO at ParticleX, said: “We’re thrilled to be supporting Homeppl through their next stage of growth. Homeppl’s proposition is compelling and we’re confident that Alexander  and the senior team will continue to move in an exciting direction. The adoption of PropTech is urgently required to transform the way real estate industry operates and improve work efficiency, while at the same time, creating value and reducing risk.

Berthold Baurek-Karlic, Managing Partner at Venionaire Capital and President of European Super Angels Club added: “The entire team and I are very proud to become part of Homeppl’s growth story, particularly at such an exciting stage in the company’s life cycle. Alexander  and the team are extremely passionate about the work they’re delivering and its unique technology for the rental market. This company has everything needed to become a unicorn one day.”

Alexander Siedes, CEO and co-founder of Homeppl, said: “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 at Homeppl 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.”

Homeppl has seen significant growth over the last year particularly as lockdown measures eased across the UK. With international movement slowly showing signs of recovery, the rental market is also undergoing signs of evolution as the market embraces a post-COVID reality. Working with its existing partners, such as JLL, Chesterton, Quintain and more, Homeppl’s solution aims to bring equality of opportunity to renters while allowing their partners to safely transact with consumers.

Homeppl plans to double its team of 30+ strong professionals within the next year