UK-based student living startup Housr has recently raised £1.5 million, which constitutes 30% of its ongoing £5 million funding round aimed at addressing the student housing crisis. With a focus on simplifying the rental process for students, Housr’s app facilitates everything from booking viewings to managing maintenance, landlord contacts, and bill payments. The platform, which collaborates with 30 UK-based letting agents, is poised to reach 30,000 users by January 2024.
The startup, founded by university friends Harry Panter and Ben Clayton, is in a growth phase, with plans to break even by July 2024. Housr’s business model, leveraging brand partnerships and utility billing, is projected to generate an annual recurring revenue of £2.4 million over the next 16 months. This funding round, led by venture partner Bachmanity, signifies confidence in Housr’s potential to innovate in the proptech sector.
Expanding beyond its current operations in Manchester and Birmingham, Housr plans to extend its services to six more UK cities and seven US cities. The expansion is supported by a growth strategy that includes hiring an additional 45 employees to strengthen its operations, marketing, and campus presence. This move aligns with Housr’s ambition to revolutionize the student housing market by making it more accessible, efficient, and rewarding for students.
Housr stands out by offering a unique blend of rental property listings, utility management, and lifestyle perks within a single app. Its user-friendly platform, likened to a dating app for housing, allows students to easily swipe through property listings for viewings. By using AI to streamline the rental process, Housr removes administrative hurdles, enhancing the overall rental experience for students, landlords, and agents.
The recent funding of £1.5M is a testament to Housr’s innovative approach to solving the student housing crisis. As the startup gears up for a significant expansion in the UK and the US, its focus on digitization, efficiency, and community building through rewards and perks positions it as a leader in transforming student living. With its sights set on a total funding round of £5M, Housr is well on its way to becoming a key player in the global student housing market.
