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Ideal Flatmate closes £1.1m funding round

Ideal Flatmate, the algorithm-based flatshare matchmaker, has closed on a £1.1m funding round – bringing up its total to more than £2m.

The platform takes inspiration from dating websites by prioritising how well matched prospective flat-sharers are in terms of personality, rather than just focusing on location and budget.

Tom Gatzen said, co-founder of Ideal Flatmate, said: “We are delighted to have secured the backing of our existing shareholders and a range of new investors as part of our largest funding round to date.

“This is an exciting time in the rental market in the UK, with a great deal of institutional backing being put into the Build to Rent sector, and ideal flatmate is in pole position to take advantage of this growth!”

Three million flathunters have searched for places using the platform so far in 2019, while over 50,000 properties have so far been advertised using the platform.

The company has partnered with 15 major Build to Rent developers in the UK.

Ideal Flatmate said it will use the funding to continue national expansion and keep growing the Build to Rent industry.

The business is set to launch a number of new partnerships in the coming months as it develops its product to serve its flathunter and landlord users.

These include the ability to conduct a credit check via the platform and sign a tenancy agreement online.