Mike Savva CEO & Founder of Scaling Proptech Findingaplace gives full update on progress to date
In the past seven-years I have met 961 Proptech founders who are looking to solve a huge variety of problems in the plan, build, sale, lease and management of property assets. And for me Mike Savva CEO and Founder of Findingaplace, who is not a client and has no commercial tie with me, stands out head and shoulders as a person and a company that you might want to get involved with as he is definitely one to watch.
I caught up with Mike about a week ago to see how things were moving forward, and it turns out he is in the middle of a funding round, so I said I would flag this opportunity up as I really respect him, and his mission and his team that I met in the past at their London office. So in his own words this is where Mike Savva CEO and founder of Findingaplace is as of December 2023,
‘For those who do not know Findingaplace is a property matchmaking platform which aims to remove many of the pain-points faced by tenants, landlords and agents when renting a property. For example, did you know that one out of two times when a tenant enquires about a property it isn’t even available; that was our genesis.’
‘So now our tech-driven solution connects pre-vetted tenants who are actively searching to agents and landlords who have available properties – without the need for an online property portal.’
‘In the last 18-months we have delivered more than 500% growth in our user base, with over 60,000 registered tenants in London alone. Plus we’ve signed up over 250 agencies including many of the biggest brands on the high street and already have 250 Landlords testing out our brand new direct to landlord service too.’
‘With significant growth plans ahead we are delighted to offer our community, the chance to join our incredible existing investors, and support our business and be a part of our future by investing in us. With almost 50% of the round already committed, now is the chance to sign up and learn more, to register for early access click on this LINK.’
‘By signing up you’re not committing to anything; you’ll just get to read more fully what we are getting up to and you can decide having taking advice if you want to help fund us so we can make the lettings space better.*
‘What I and the Findingaplace team know is that tenants are frustrated. They spend on average 20+ hours searching property portals, with research showing 50% of the time the properties tenants enquire about aren’t even available and 40% aren’t even acknowledged. Put simply, 80% of tenants are unhappy with the current rental process.’
‘Also 75% of letting agents and landlords are also frustrated. They spend vast amounts of time and effort advertising properties, keeping their listings accurate and vetting huge volumes of tenants before viewings can even be arranged.’
‘Our matching technology aims to eliminate these difficulties, saving all parties time, money and stress – making renting a smoother and hassle-free process. Tenants have the added bonus of getting a head start vs. others searching as they hear about properties that aren’t even on the market yet as well as privacy via our innovative phone number masking technology.’
‘We have a solid monetisation strategy. Our ambition is to gain full coverage of property stock within the private rental sector (PRS) to best support our tenants and use our scalable technology to expand geographically. We will utilise our key network of five stakeholders to facilitate this:
Agents – For a monthly tiered subscription, agents receive access to our platform providing pre-vetted tenants matched to their branch-specific requirements.
Landlords – With over 250 landlords in BETA and now ready to launch, for a monthly subscription, landlords receive access to our platform providing pre-vetted tenants matched to their specific properties. We have a clear strategy to grow our landlord offering, supporting them through the whole letting process not just finding a tenant, including tenant referencing, gas safety certificates, assisted viewings etc.
Tenants – Tenants register with us outlining their search requirements and circumstances. Once vetted we pass these enquiries directly to our agent and landlord partners. Free of charge, but we are exploring enhanced VIP services with a recent pilot resulting in 6.5% of our new registered tenants subscribing to a monthly subscription.
Corporate Partnerships – Through fixed-fee or commission-based corporate partnerships ‘Findingaplace Perks’ offers our registered tenants exclusive access to discounted ‘tenant-related services’ such as removals, cleaning, renters insurance etc.
Build-to-Rent – Our sights are set on this final segment of the PRS in the growing sector of ‘build-to-rent’ developments. The principles of monetisation remain the same with a monthly subscription enabling access to pre-vetted tenants that match build-to-rent development sites requirements.’
(*Disclaimer – Proptech-X Property & Proptech News is in no way endorsing the investment of this company via crowdfunding, anyone considering investing must seek their own independent advice, of whether to invest.)
Andrew Stanton is the founder and CEO of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder and editor of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.