Housr Raises €1.7M, Targets UK and US Expansion

Manchester-based proptech startup Housr has successfully secured approximately €1.75M in a growth funding round, marking 30% of its targeted £5M funding goal. The funds will fuel the company’s expansion efforts in both the UK and the US, as it aims to revolutionize property listing, letting, and management.

Housr, co-founded by Harry Panter and Ben Clayton, focuses on student living and addresses the pressing issue of housing affordability. The recent funding comes from existing investors, led by venture partner Bachmanity, showcasing confidence in the startup’s vision.

About Housr: Housr operates as a comprehensive student living platform, consolidating rental properties, utilities, and lifestyle perks into a user-friendly app. The platform, currently active in Manchester and Birmingham, streamlines rental processes, facilitates home searches, and assists with administrative tasks. Additionally, Housr offers rent rewards to students, creating a unique and engaging experience.

Functioning akin to a dating app, Housr allows users to swipe through property listings for viewings while serving as a management portal for landlords and agents. The incorporation of AI technology removes administrative hurdles, enhancing the overall rental experience.

Housr has successfully built a loyal student community by offering incentives such as rent discounts, year-long free pizza, and exclusive drink offers from commercial brand partners. The startup aims to reach 30,000 users on its iOS app by January 2024.

Growth and Development: With a current staff of 26 employees, including four in the US, Housr anticipates achieving “break-even” in July 2024. The company projects an annual recurring revenue of £2.4M in the next 16 months, driven by strategic brand partnerships and utility billing.

Housr’s expansion plan includes reaching six cities in the UK and seven cities in the US after securing the targeted £5M in funding. The recent acquisition of an online student community in Leeds adds 45,000 properties to its platform, solidifying its presence in Manchester and Birmingham.

Harry Panter, co-founder & CEO at Housr, states, “Our intuitive and frictionless app streamlines each step of the rental process, from search to management and utilities. This makes it easy for tenants and agents to manage their home in a single place.”

Utilization of Funds: Co-founder Panter emphasizes that the additional funding will accelerate Housr’s progress and establish it as a prominent student housing partner in the UK and the US. The funds will be crucial for digital transformation and disruption in both markets, catering to the demands of the latest generation of students.

Panter adds, “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.”

Housr, having previously secured £1.2M in funding over two years, plans to collaborate with 30 UK letting agents, averaging 73 rentals per week in anticipation of the peak student letting season.

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