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Thursday 09 September 2021

Funding boost for Homeppl to help Landlords exclude more risky tenants

logoI might have appeared a bit cynical (moi?) about London-based tenant referencing startup Homeppl’s claim that it ‘creates rental inclusion’ when arguably it does the precise opposite. I made the comment when writing about Homeppl’s funding round in December last year (see Backers help 'inclusive' Homeppl help landlords exclude risky tenants).

Incorporated in London in 2016 by an Israeli ex-military intelligence officer, Homeppl ‘leverages Open Banking, proprietary behavioural analysis and fraud detection tests to assess the financial situation of potential tenants and ability to afford rent.’ Its ‘inclusion’ angle is its claim to save tenants an average of £1,100 that they would have spent on financing to pay their rent up front’ (i.e. if the landlord had not rejected their application). Make up your own mind.

Homeppl has just raised a further $1.4m in a funding round led by Hong Kong-based ParticleX and Venionaire Ventures. This brings the total raised so far to more than $5m against a $13.5m post-money valuation (Source: Crowdfunder Insider).

Look, of course landlords need to vet prospective tenants and there are many other agencies and startups that provide this service (e.g. see Goodlord vouches for Vouch). But what sticks in my craw is Homeppl’s ‘tenantwash’ about helping renters ‘access the properties they deserve’. That’s what I really call ‘chutzpah’!

Posted by: Anthony Miller at 09:25

Tags: funding   startup   PropTech  

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