A property business backed by Pi Labs is raising money via crowdfunding.
Track, which describes itself as a property and money manager for home owners, is raising £250,000 on Seedrs in exchange for 11% of equity, and by yesterday had already raised £158,000 – 63% of target.
The business values itself at £2m, and is initially aiming at young home owners including first-time buyers.
It offers property valuations – which it claims are three times more accurate than Zoopla’s – plus living costs management, with the stated ambition to become the leading finance app for all home owners from first-time buyers to landlords.
Other features include multi access, whereby everyone involved in the household’s finance can see what is going on in a shared-finance household.
It will chiefly use the funds it raises to grow its team and develop its products – promising users that they need never fill out a spreadsheet again.
Track’s founders are Byron McCaughey and Henry Oakes, who met while studying at Imperial College Business School.
McCaughey said: “We have ways of managing everything online from our current accounts to our pensions and credit scores – but it struck us that there is nothing out there for our biggest and most personal asset: our home.
“We built Track to give home owners a sense of empowerment, ease, and above all else, to take the emotional stress out of money management.”
Nice idea but don’t many banks and accounts already offer a similar service to show where you are spending your money and help you budget accordingly? Doesn’t a good financial advisor do this?
I’d love to know how the business is worth over £2m!
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