Posted on February 20, 2018 by staff

Rental platform Homie raises $4m


Search platform for renters Homie has raised $4 million in seed funding to bring its total investment to just under $6m.

The latest funding round was led by Connect Ventures and supported by a host of other investors including Seedcamp, Venture Friends and The Family.

Homie said the investors have backed its vision of delivering a faster, more affordable and more transparent approach for renters looking to relocate.

Founded in 2016 by Alex Eid (pictured below), Homie assigns every renter a personal home finder or ‘Homie’.

This new investment represents an incredible opportunity for us to further develop our tech platform and team without compromising on any of the personal aspects of Homie that make it so unique,” said CEO Eid.

“Our vision has always been to make London’s rental market faster, more transparent and easier to navigate whilst delivering a personal service.”

‘Homies’ do the research to the renter’s exact specifications and removes the need for them to deal with multiple estate agents.

They then act as the renter’s private agent, accompanying them on an all-inclusive cab journey across London to visit up to ten homes in a two-hour tour, whilst offering advice on the area.

Research from the ambitious start-up recently claimed that London’s renters were wasting up to 20 hours a month on researching homes alone and spending a further five hours at least attending scattered property viewings.

Sitar Teli, managing partner at Connect Ventures, added: “The home rental experience has had little innovation on any front. As a Londoner who has been through the process of finding a flat to rent five times in eight years, I know the problem Homie is solving first hand several times over.

“Homie is changing the experience end-to-end, using data and software to make the experience significantly more efficient and enjoyable.

“At Connect, we look for the rare companies that use technology to change a user experience from terrible to delightful, and we’re excited to be backing Homie to do this for renters on a much larger scale.”