South African PropTech Startup HouseMe Raises Additional Funding

Cape Town-based proptech startup HouseMe has raised an additional round of multimillion rands of funding from a large private fund. The fund is said to have had undertaken an extensive external consultancy project on the company, market and product before investing. This is the third round of funding the startup has raised in the last 17 months.

HouseME is a digital long-term letting platform that makes renting easy and accessible for both landlords and tenants. Using smart technology, the startup digitally coordinates the complete viewing, vetting, administration and payment process.

Ben Shaw, Chief Executive Officer of HouseME, says that the past few years have seen funding spend becoming more targeted to data insights, financial products and growth. “Earlier this year, we launched our hugely disruptive DepositFREE^TM product and we have another ground-breaking liquidity product in the pipeline for launch in early 2020.”

“This funding now helps position the company for Series-A investment, with a focus on data architecture, analytics and scalable growth strategies. Our collaboration with Gumtree at the end of last year raised our profile considerably, and the platform and team have grown substantially since that was announced,” says Shaw.

HouseME currently boasts a user base of 100 K and a collection rate of 99% – significantly higher than the national average.