An online platform for mid to long-term rental accommodation, Spotahome, has handled over $4 million in residential rental transactions since its UK launch in March 2016.
On a global scale, the PropTech startup has managed over $92 million in rental transactions for property managers and private landlords since its initial 2014 launch. From this rapid growth, the company has created $43.7 million in the last half of 2017 for landlords who use the platform – triple the amount generated in the second half of 2016.
Alejandro Artacho, chief executive and co-founder of Spotahome, said the results from the second half of 2017 are ‘extremely positive’.
Now present in 20 cities across 10 countries in Europe and the Middle East, Spotahome is deemed a useful ally to property managers who are able to maximise their investments through the platform. Many have taken advantage of how easy it is to reach tenants and have tackled international expansion projects.
In addition, private landlords that have one or more residential rental properties benefit hugely from the business model, as HD videos, 360-degree photos, detailed floor plans and extensive neighbourhood information replaces physical visits to the property.
Spotahome also offers extra guarantees to safeguard landlords against tenancy cancellations, payment defaults and property damage.
Artacho added: “Thanks to our last financing round, led by Seaya Ventures and Passion Capital, we were able to consolidate our business structure and have designed a ramp-up plan which will allow us to continue with our strategic expansion during 2018, and the continuous improvement of the user experience internationally.”
The company recently launched the first multi-country mobile application for mid to long-term housing rentals, accessible in five different languages. To learn more, visit spotahome.com.