Student living start-up Housr announced today that it has secured £1.5 million, 30 percent of a planned £5M round.
Housr is on a mission to tackle the housing crisis, with a housing app that helps students secure housing from booking viewings, to once acquired, managing maintenance, landlord contacts, and bills payments.
Housr currently works with 30 UK-based letting agents, making the rental process easy for tenants and landlords.
The app is on track to have 30,000 users by January 2024.
The scale-up was founded by friends Harry Panter and Ben Clayton while at university and forecasts to break even in July 2024.
Through brand partnerships and utility billing, it projects annual recurring revenue of £2.4 million over the next 16 months.
The start-up has developed a loyal community of students who are rewarded with perks, including money off their rent, a year's supply of free pizza, and offers on drinks through its commercial brand partners.
Harry Panter, co-founder and CEO at Housr, asserts:
"The latest generation of students demands this level of digitisation from the sector, and until now the archaic industry has been unable to provide it. Our ethos – built by students for students – serves this group.
We understand what truly resonates with them. Our introduction of rapid peer-to-peer rentals will change how students find housing, making it cheaper and more efficient for all involved."
Following the latest funding round, Housr plans to expand to six UK cities and seven US cities. It will also increase its headcount to 45 people, with further hires in operations, marketing, and on the campuses it operates in.
Lead image: Housr founders Harry Panter and Ben Clayton. Photo: Uncredited.