Cardiff proptech firm valued at £1.1 million
A Cardiff-based property tech start-up has received a valuation of £1.1 million after raising more capital in its bid to transform student letting.
University Cribs is an online media platform where letting agents and student accommodation providers can share their properties with students.
Unlike many other property letting websites, it’s aimed only at the student demographic, and it boasts a model that simplifies and streamlines the process of finding a suitable house.
All agent-listed properties are placed on the site, and landlords can access the market at the same time. The website also sports advice articles and neighbourhood guides.
The website has already received the backing of Keylet and Imperial Letters, which are two of Wales’s largest letting agents, as well as hall operators We Homes for Student and CRM Students.
UC expects that this list will continue to grow over the next few months. Across a single 28-hour period in late July, more than 2,000 properties were listed on the site.
It’s also gained a hefty following on social media, with more than 140,000 Facebook likes and 3.5 million monthly impressions. The founders are Cardiff University graduates so understand what it’s like to be a student looking for housing.
Jack Jenkins, co-founder and director of UC, said: “A recent survey by UCAS media shows that 56% of students would rather view potential properties online than in person, and University Cribs is simply stepping in to meet this demand for time-saving.
“It’s about time all properties most suitable for students are listed in the same place online. Agents are also crying out for a specialist student marketer to help them increase their property exposure.
“University Cribs offers student accommodation providers such an online marketing platform, ensuring their properties are seen by thousands of students in their local area. With our strategically built social media channels we are able to maximise their exposure to the target demographic.”
The website will soft-launch in August, with an official launch in October across the cities of Cardiff, Bristol, Swansea, Oxford and Bath. A national roll out across a number of cities in the UK is planned over the months following the launch.