CROWDHAUS ANNOUNCES £162,500 IN PRE-SEED FUNDING FROM SFC CAPITAL TO ACCELERATE GROWTH OF THEIR PROPERTY DISCOVERY PLATFORM
27 th April 2021: Newly launched property discovery platform, Crowdhaus, announced today that 65% of their pre-seed funding round has been led by SFC Capital, who have committed £162,500 to support the business’s growth ambitions.
In total, Crowdhaus have secured over £200,000 through the commitment of SFC among other angel investors during the funding round.
Crowdhaus is a property discovery app, which allows users across London to find homes to buy and rent with a swipe-based user interface. Crowdhaus also enables social property searching, including the ability to create ‘groups’ with fellow household members to privately discuss, feedback and rank relevant properties – replacing the need to manage inconvenient WhatsApp links and disjointed chats.
Conan Osborne, co-founder of Crowdhaus, said
“We are really excited to join the SFC Capital portfolio. With an amazing team building the product in house, it’s such a boost to gain the support from one of the most recognisable names in the early-stage VC space. We are looking forward to combining our ambitions with their start-up expertise to take the business to the next level. Our vision is to become the go-to property discovery platform for a digitally native audience.”
Crowdhaus’ core mission is to change the way people interact with property, whether that be for those looking to rent, buy, or simply ‘dream search’ – a pastime that is becoming increasingly recognised as a national hobby. In fact, 27 million adults ‘dream search’ at least once a week, with 1 in 10 doing it every day.
Alongside giving further runway to the business, the SFC investment will enable the team to focus on four primary objectives:
- Building out the iOS app that launched in February of this year
- Developing Crowdhaus for other platforms (including Android)
- Onboarding key hires to drive user growth
- Forging new partnerships, and expanding on those with others, including specific Winkworth branches
Edward Stevenson, Investment Executive at SFC Capital, noted
“SFC were delighted to have led Crowdhaus’ latest funding round. The team is working on a fantastic product that is aimed at a significant section of the market that is currently inadequately served by the current solutions. We are excited about what the future holds for the company, in a space that is crying out for change”
2020 was a crucial year in Crowdhaus’ journey, with the Government-funded Geovation accelerator programme providing the company with early-stage funds and the support needed to bring the founders’ ideas to life. This was followed by a successful Innovate UK 1 Source: https://strata.co.uk/we-are-a-nation-of-dream-searchers/ (2020) Smart Grant application, which helped the team turn the MVP into a scalable platform and implement their property matchmaking algorithm – which is set to deliver this quarter.
This funding will enable the business to go out and explore partnerships in the home moving funnel, having just completed a successful trial with a Winkworth lettings & sales branch in Kensal Rise, London. The team is confident that the support from SFC will open doors to further investment and investor confidence, which will no doubt prove crucial in an important year for Crowdhaus’ growth. By accelerating product development, Crowdhaus is set to become the new home for property discovery, social home searching and for a nation of dream-searchers.
There is still space left in this round of investment, so if you’d like to join the team on their journey, get in touch, as we’d love to have a conversation.
Founded in 2018 by Conan Osborne, Matt Pollen and Matt Falconer, Crowdhaus is a brand-new property app, designed for a digitally native audience. It enables users to explore local properties in a fun and exciting way, just by swiping left or right. The app subsequently uses AI to rank properties and provide users with personalised recommendations. Additionally, the innovative ‘Groups’ feature enables friends and family to rate and discuss properties together in-app, removing the friction of web links and disjointed WhatsApp chats. Crowdhaus is available on the Apple App Store now
For more information, please visit www.crowdhaus.co.uk or contact [email protected]
About SFC Capital:
SFC Capital is the UK’s most active seed investor, and the third most active globally (PitchBook, 2020). Combining an angel syndicate with its own funds, SFC invests in SEIS- and EIS-qualifying businesses across a wide range of sectors – from biotech to fintech, AR/VR to D2C retail. In the spring of 2020, it received a £10m commitment from British Business Investments (a subsidiary of British Business Bank) as part of BBI’s Regional Angels programme in support of SFC’s mission to back promising early-stage companies from every corner of the UK. SFC made more than 60 investments in 2020, most of them closed after the onset of the coronavirus pandemic.