A website that lists private sale properties and calls itself “the all in one property marketplace” has valued itself on a crowdfunding site at £10m.
TheHouseShop - until 2015 known as The Little House Company - is controversial in the eyes of some because it allows individuals to list, alongside agents and developers.
In 2016 it also took over the Accessible Property Register, a website specialising in promoting wheelchair-accessible homes.
Now it is crowdfunding for additional money, seeking another £500,000 on the Crowdcube website. Its pitch values itself, before any new fund raising, at £10m.
It says it raised £1.75m to launch itself and since then has listed three million properties, and had 800,000 visits in one particular month - January this year. It describes itself as having a “scalable business model with diverse revenue streams” and is regulated by the Financial Conduct Authority allowing the direct sale of insurance products.
“We enable landlords, sellers, agents, renters and buyers to co-exist on a secure and trusted platform, providing equal access to free property listings and over 30 smart services. We sit at the centre of every property transaction, helping consumers to transact and gaining valuable insight and market knowledge” the pitch continues.
“We are not an online estate agent, or a property portal. Instead, we combine our competitors' services onto a single platform. We do not exclude any segment of the market. Instead we encourage choice and facilitate transactions - whether private or professional. We’ve created diverse revenue streams and developed products with the aim of establishing ongoing revenue generation” it goes on.
This call for additional funding comes as online agency Emoov - which undertook a successful crowdfunding round earlier this year - is now scrambling to find a buyer, and after a recent successful crowdfunding campaign by another online operator, Doorsteps.
With 15 days left, TheHouseShop has raised over £160,000, around a third of its goal: the funding site currently is available only to “selected investors” but the platform’s founder, Nick Marr, says it will be launching to “the broader community” next week.