Homeppl, which helps property managers check their tenants and take out rent insurance, has reportedly collected $1.4m in funding.
The round puts the PropTech company’s valuation at $13.5m, according to a report from UK Tech News.
ParticleX and Venionire Ventures served as the lead investors to the round.
With the equity, the company hopes to grow its customer base, deepen its innovation and further its international growth. Homeppl also hopes to double its team, which currently sits at around 30.
Homeppl CEO and co-founder Alexander Siedes told UK Tech News that Homeppl raised double than what it expected, which will help accelerate its growth.
The London-based FinTech company has three core solutions, Tenant Check, Rent Guarantor and Rent Insurance. Its Tenant Check service helps property owners get a better understanding of their tenants and complete fraud checks.
The Rent Guarantor solution helps tenants remove the upfront financial burden. Finally, its Rent Insurance tool provides landlords with insurance protection for their properties.
It claims to have protected customers over £3m in potential losses during 2021.
ParticleX CXO Mingles Tsoi 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 the real estate industry operates and improve work efficiency, while at the same time, creating value and reducing risk.”
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