Houst, a UK-based short-let management company, is set to close its latest equity crowdfunding campaign on Seedrs with nearly £4.5 million raised. The funding round has attracted more than 475 Seedrs investors and was approved from the Future Fund, a UK government initiative to support startups and early-stage ventures.
As previously reported, Houst partners with homeowners, advertise their properties on platforms like Airbnb, and use technology to help manage bookings. From cleaning and laundry to guest communication, key collection, and pricing. The company previously raised over £1 million through its past Seedrs campaign.
“Our strategy in the short to medium term is to maintain focus on delivering the expansion of our core business model, rather than looking at alternative revenue streams. However, we have a breadth of long–term strategic options we are considering. Possibilities are not limited to our host-customers, but also include monetising additional (add-on) services to guests to compliment their stay. Since launching in 2015, we’ve managed over 250,000 guest bookings.”
The latest Seedrs round comes just a little over a year after Houst raised £1,162,560 through its previous crowdfunding campaign. In regards to what the funds from the latest Seedrs round will go towards, Houst added:
“Kickstart after COVID-19. The pandemic inevitably reduced our revenues in the short-term. But we took quick and decisive action to fast-track restructuring post-acquisition, automate areas of operations, and shift all properties towards medium-term lets. As a result, we believe that we’ll be able to kickstart faster and more strongly than our competitors. Unify the market. Emerging in a strong position provides a unique opportunity to grow our position as a global leader. There are hundreds of small property managers globally, most stuck with less than 100 homes because they don’t have the tech or capital to grow. We are approached regularly by operators looking to sell up and join the Houst group. We believe that here lies our opportunity.”
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