London-based platform Movebubble has launched a crowdfunding campaign, asking for £800k. The Seedrs campaign plans to use the funding to expand and for product development.
Starting with the two million renters in London, the mobile app connects renters to agents and large developer landlords to help find the right property.
Renters using the app can get a response in minutes, schedule viewings, share feedback with the community and search for properties that are updated in real time.
The platforms algorithm learns and adapts to users preferences and needs, providing more tailored results as it gathers further behavioural information.
Movebubble recently unveiled its new feature; partner agent rankings. With 92% of rental enquiries unprocessed, the league table uses data to rank Movebubble’s top 200 agents by how long they take to respond to renter queries, how often they respond and the rating given to them by renters out of five.
The table has found that top agents typically respond within one hour, have a 100% response rate, and a renter rating of five stars. On the other hand, the longest response time in the table is one week with an 8% response rate.
Movebubble noted that the rise in house prices, particularly in the capital, has resulted in a rental boom.
The UK rental market is expected to increase by 33%, by 2025, creating 7.4 million rental households. Therefore, Movebubble will be using proceeds from the Seedrs campaign to continue its expansion and product development programme in order to meet this growth.
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