A proptech firm which runs an innovative app for renters in London and Manchester looks set to expand to more UK cities after announcing a partnership with investment company Blackfinch.
Blackfinch is reported to have made “a considerable contribution” into Movebubble’s business, which could see the firm roll out its app for renters across the rest of the country. As the proptech sector continues to expand, investment of this level is a key indication of the direction the property market is expected to increasingly move in over the coming years.
Set up in 2014 to operate in London, Movebubble is the fastest growing rental platform with in excess of half a million downloads making rentals a 24/7 activity. Its innovative proptech app is popular in comparison to larger property portals because it is more affordable and tenants can access the app for free. It also acts as a lead generator and viewings organiser for letting agents and enables tenants to rate an agent’s service via a star system.
London and Manchester enjoy build-to-rent bubble
Between 2018 and 2019, Movebubble has experienced strong growth with active users rising by 119%.
Earlier this year, the company was successful in expanding into Manchester, recognising the huge changes and potential of the build-to-rent and private rental markets. It quickly added a number of premium build-to-rent developers to its platform.
Generation rent benefit from innovation
Blackfinch’s ventures director, Dr Reuben Wilcock, said: “Movebubble has already achieved critical mass in London and we are delighted to be investing in its expansion throughout the UK and globally.”
Aidan Rushby, chief executive of Movebubble, commented: “We are delighted that Blackfinch has become an investor in Movebubble and look forward to taking the company to the next level with its support. Our intention is to continue to build on delivering a seamless transparent service for a generation of renters in search of a home.”