The Manchester-based proptech startup, Housr, has closed a £7.5 million Series A funding round to fuel product innovation and geographic expansion, with backing from two Texas-based private investment firms.
The round included strategic participation from Ashta Capital and Juniper Equity, both private investment firms that invest in growth-oriented operating companies. The funding follows a period of significant growth that saw Housr achieve 186 per cent year-on-year revenue growth.
Founded in 2021 by Harry Panter and Ben Clayton whilst studying at the University of Manchester, Housr operates a free-to-use app that serves as a digital ecosystem for student life, offering rental and housemate searches, bill splitting, rewards and local deals.
The platform allows students to find accommodation, book viewings and manage rental administration, whilst also providing letting agents and landlords with a management portal. Landlords are paid £120 per property to advertise their student homes on the app, and students are incentivised through reduced rent deals, free pizzas and drinks.
Housr now operates in eight UK cities including Birmingham, Manchester, Leeds, Nottingham, Exeter, Cardiff, Swansea and Leicester.
Harry Panter, co-founder and CEO of Housr, said:
“This financing is a powerful validation of our teamʼs vision and the measurable impact weʼre having on the student rental industry. The market is rapidly shifting towards demand for an all-in-one, student OS, with the home at the heart of everything, and our platform is uniquely positioned to capitalise on that demand.”
Panter explained that Ashta Capital’s strategic involvement positions the company to accelerate growth across key university markets in the US, alongside the rollout of new products that will change how students rent and interact with their finances whilst at university.
The newly secured capital will be deployed across three core strategic areas: product innovation, talent acquisition and market expansion. Housr aims to service one million students across the UK and US within the next 12 months.
Eric Priamo of Juniper Equity said:
“The university market is massive, especially here in the US, but really globally, because that’s where Housr has the opportunity to go. There’s around 4,000 universities in the U.S, so just think about that. That population that Housr can go to and have engaging with the app, and just in Texas alone, there’s probably somewhere between 750,000 to a million students. There’s just a massive market here that you only need to capture a very, very small percentage for it to grow and be incredibly valuable.”
Brandon Snyder, founder of Ashta Capital, added:
“I was immediately struck by his energy and passion for what he was building. Harry has a rare ability to clearly communicate his vision and inspire others to join him in achieving it. That clarity of purpose and enthusiasm is what stood out to me from the very beginning.”
The company has grown significantly from having 30,000 students using its app two years ago to now targeting one million users by the end of next year following the new investment.
Earlier this month, Housr signed a student living partnership with the University of Birmingham to modernise the university’s off-campus housing processes, promote their approved landlord membership scheme and increase engagement with students.
Housr previously raised £1.2 million over its first two years of operation from sources including Bachmanity Capital and various angel investors. In December 2023, the company announced it had secured £1.5 million as part of a planned £5 million funding round.
