PropTech app Zumper raises $46m in its Series C

Zumper, a mobile-based property renting platform, has raised $46m in its Series C round.

Capital for the round was supplied by Axel Springer, Stereo Capital and Blackstone. Existing backers Dawn Capital, Kleiner Perkins, Breyer Capital, Scott Cook, Goodwater Capital and xfund also participated in the series.

Including this new financing, Zumper has raised a total of $90m in fundraises.

US-based Zumper is a renting platform which aims to simplify the whole renting and moving experience for consumers. Its solution includes a booking feature which lets people pre-qualify, reserve and book an apartment or home to rent from, similar to booking a room at a hotel.

Machine learning technology used by Zumper helps predict prices for rental properties, offers recommendations on how to price property and also recommend rental opportunities.

With this equity injection, the company will look to further build upon its end-to-end platform to cater for its growing customer-base. To support its growth, the company is expanding its team with the hiring of 50 new members of staff to its San Francisco headquarters.

Blackstone managing director Sean Muellers said, ?As a client of Zumper and one of the largest landlords in the US, Blackstone is keenly focused on technological innovation to improve the rental process for both renters and landlords. Partnering with the best-in-class Zumper team to effectuate this industry change is the definition of a win-win situation.p>

As part of the deal, Muellers will serve at Zumper as a board observer.

Alongside the new round of funding, the company has released a new website and apps for Android and iOS.

Copyright ? 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.