Home Made raises further £2M for its premium online lettings agency

Nov 7, 2018 · techcrunch.com

Home made team

Home Made, the London premium online lettings agency, has raised a further £2 million in funding. The round is led by Athens-based venture capital firm VentureFriends, and follows the proptech startup’s £850,000 "pre-seed" round nine months ago.

Founded in 2016 by Asaf Navot, a former Bain strategy consultant and INSEAD graduate, and Nick Binnington, a former British Army Captain and LBS graduate, Home Made’s proposition is based on the premise that the letting agent model is broken. Specifically, that high-street agents offer average service and charge extortionate fees, while online agents typically charge low fees but offer a worse service as a result.

The company positions itself as the only estate agency in the U.K. that offers a premium service akin to a high-end traditional estate agent, including accompanied property viewings and working until 10 pm at night, on weekends and bank holidays — for a low online fee starting at £948 +VAT. However, competitor Rentify also occupies a more upmarket space, but charges a monthly fee and is fully-managed and provides a ‘rent guarantee’. At the lower end are startups like OpenRent and uPad that operate more an à la carte model with various services to help you rent out your property.

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