PropTech startup SPCE has raised £280,210 on equity crowdfunding platform Seedrs.
The London-based company, which currently employs 13 people, raised the funds in exchange for a 20% stake in the business.
SPCE’s app connects landlords and students seeking to rent accommodation and was initially wanting to raise £215,000.
Leon Ifayemi, CEO of SPCE commented: “We are really pleased with our first ever round of funding! Being in pre-production, we are delighted that so many people have validated the SPCE concept and recognised the need for real technological innovation in the student rental market.”
SPCE, which attracted support from more than 250 private investors, is looking to launch towards the end of this year.
Investments in the space
The news comes after University Cribs, based in Wales, was valued at £1.1m after it received an undisclosed investment sum from a series of backers.
Other well funded companies in the space include Student.com, which made headlines after it raised $60m followed by an undisclosed investment from Jim Beyer, one of Facebook’s investors, last year.
The firm, based in London, predominantly helps Chinese students find accommodation overseas. It’s currently active in 400 cities across the world.