Posted on August 29, 2019 by staff

Algorithm-powered flatmate finder secures at least £1.25m


Flatmate matchmaking app Ideal Flatmate has received £1.25m in pre-committed crowdfunding.

The firm, co-founded by Tom Gatzen and Rob Imonikhe in 2015, was last year valued at £3.75m post-money, following a seed round which it said saw reinvestment from first round investors.

It said that the latest round will be used to hire, grow its user base, and boost the implementation of machine learning into its platform.

The London start-up claims to be the first UK website dedicated to helping its users find the right flatmates, which it does by profiling and connecting similar users on the platform.

It now claims to have 2,000 new properties added to its system every month and receives more than 150,000 visitors.

“This funding is a huge vote of confidence in the business and we are excited to continue building a credible alternative to help Generation Rent find their perfect flatmates,” commented Gatzen.

“The past 12 months have been an incredible journey and our team have performed remarkably in shaping the product, staying close to our users and making constant improvements to the platform. We can’t wait to increase the speed of our growth and provide London and the UK with the flat sharing platform it deserves!”

Imonikhe added: “The next stage of progression is an exciting one for the business as we deploy our growth strategies over the coming months. This funding round will help us continue to build a strong team and fast-track our drive to onboard more users.”

The date and target of its public crowdfunding campaign, to be launched on the Seedrs platform, is yet to be announced.

Last year BusinsessCloud named Ideal Flatmate one of 15 ‘AI Innovators to Watch’.