P2P renting marketplace Roomi bags $11m Series A

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

US-based P2P renting marketplace Roomi has bagged an $11m Series A funding round led by Atami Capital.

Alongside this new line of funding, the company is also launching a crowdfunding campaign on Republic, to invite users to buy shares within the company.

Roomi is a shared housing marketplace which allows users to find roommates through the platform. The app currently has listings from cities across the North America including, New York, San Francisco, Chicago, Boston, and Portland, among others. Currently in beta is also a listing marketplace for Toronto, and Vancouver.

The company has around one million registered users on the app and almost 250,000 rooms listed on the marketplace.

With this equity Roomi will look to further expansion of its operation across the US and globally.

Republic co-founder Kendrick Nguyen said, “We’re thrilled that Roomi has chosen Republic for its crowdfunding campaign. Both companies share a common link to AngelList, and this is the first time all AngelList users, accredited and unaccredited, can invest in a startup that has successfully raised from several AngelList syndicates.”

This capital injection brings the total fundraising raised by Roomi to $17m. The company launched its platform in 2015 alongside a $2m seed funding round.

Last week saw PropTech platform Compass close a huge round of funding. The company, which provides an end-to-end solution for the buying and selling workflow, ended its Series E round on $100m.

The North American PropTech sector has not received as much attention than it did last year, with there being $834m invested in the first three quarters. This sum is over $200m less than the levels seen in the same period last year.

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