Disruptive property technology company HouseME has successfully closed its largest funding round to date and a leading national property development company being confirmed as the latest investor.
The multi-million rand investment will allow the company to scale even faster and expand further into the market, while at the same time launch new products which will continue to reshape the South Africa property rental market.
Launched in 2016, HouseME immediately disrupted the property rentals industry and quickly achieved a nationwide footprint, with double-digit monthly growth announced this year.
HouseME Chief Executive and co-founder Ben Shaw said, ‘”We are delighted to be backed by such experienced and strategic investors. HouseME has once again been afforded the opportunity to pursue its vision of happier homes for landlords and tenants alike. By enhancing our understanding of new product opportunities, and in particular leveraging the knowledge of top financial services players, we certainly anticipate announcing plenty of exciting new products and services in the new year”.
The news of the latest investor comes off the back of HouseME announcing a major deal with online classifieds Gumtree. The collaboration with Gumtree was a key step for the company to broaden its reach and further connect with landlords across the country.
The company was awarded the Top Start-up of Cape Town 2018 by Seedstars and has also raised strategic capital from a financial services provider, a signal of intent from the company as it looks to capitalise on its strong growth and track record.
HouseME is a South African first, and costs landlords as little as 2.5% of rental. Using smart technology, HouseME digitally coordinates the complete viewing, vetting, administration and payment process.
The company also offers a Rental Guarantee which ensures that landlords are paid on time every month, regardless of when the tenant makes the payment.
HouseME manages several hundred properties in six provinces and also boasts a successful collection rate 20% higher than the industry average.
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