The campaign, which opened to the public yesterday, will initially offer equity at a pre-money valuation of £1.5m. Prior to the raise’s public launch, over £185,000 of investment has already been privately raised.
With the platform having launched in London this spring, the funding will play a major role in supporting the company’s plans for growth.
Findingaplace’s ambitions to scale follow a breakthrough first six months for the company, with over 13,500 tenants having registered and being connected to hundreds of agent partners throughout London, including companies such as Winkworth, Benham & Reeves and Fine & Country.
The platform was founded by former Dixons Carphone director Mike Savva as a means of simplifying the property search process.
Savva said: “With over 2m private renters, nearly 8,000 estate agencies and hundreds of thousands of rental property searches every week, the London rental market alone holds huge potential for growth.
“Backed with the capital secured from our crowdfunding round, we will be looking to enhance our platform features to really maximise the value we offer our agency partners – as well as plan our expansion beyond the capital – turning our attention to the wider multi-billion pound UK rental market and our first international market, as well as long-term scalability.”