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Home » Housing » News » Ideal Flatmate Seeks £1.3 Million in Seedrs Funding

Ideal Flatmate Seeks £1.3 Million in Seedrs Funding

By Phil Butler | September 25, 2019

The UK-based startup Ideal Flatmate is out to raise £1.3 million in funding through its new equity crowdfunding campaign on Seedrs. The proptech platform that matches flatsharers with their ideal "flatmates" aims to synthesize the perfect flat-sharing experience, according to the news.

Ideal Flatmate
Via the Ideal Flatmate Twitter

Having created more than 40,000 shared property listings over the course of the last six months, Ideal Flatmate also claims its community of flatmates are 40% happier with their choice of living partners. The startup told Crowdfund Insider:

“We are driven by the desire to make flat-sharing better and easier for everyone, by helping our users find flatmates they match with. To help you, we have developed a short questionnaire about your living habits, the answers of which will allow you to find your ideal fellow flatmates in a given area.”

According to the news, the capital from the Seedrs round will be used for resource allocation, which will be split 50% marketing, 30% technical development/product improvement and 20% towards continuing to hire its team.

Since its launch back in 2017, Ideal Flatmate has gleaned almost £1 million in funding from more than 75 investors. The startup is offering 16.67% in equity at a £6,500,000 pre-money valuation.

The Ideal Flatmate platform uses algorithms to help people find compatible housemates. These algorithms are powered using research from Cambridge University’s Department of Psychology which identified the common features of happy flat shares, which it has turned into a ‘matching quiz’.

The London-based firm launched by co-founders Tom Gatzen and Rob Imonikhe, began as a move to give more options for those looking for suitable flatmates. The initial investors included Steve Leach, founder of Bigmouthmedia and chairman of Fetch Media; and David Pollock, founder of Greene & Co.

According to Crunchbase, Tom and Rob are two young professionals who met at university and, having lived with each other. They had their ups and downs with previous flatmates and decided they'd build something to help people find the most compatible people to live alongside.

Ideal Flatmate is now engaged in mapping out a clear route to growing the platform in the UK. They're set on growing the brand now, according to the company.

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.
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