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New property tech start-up valued at £1.1 million before launch

Sunday 07 August 2016

Demand for student property looks to be high after a new property tech start-up was given a £1.1 million valuation before it has even been launched.

Investment has not been in short supply for 'University Cribs', which will not open for business until October and will focus on the letting market among students.

It will look to simplify the process for undergraduates looking for places to rent by putting them all on one streamlined site.

It will also offer advice and guides to the local area in a bid to ease the students into their temporary homes.

Set up by graduates from Cardiff University, they say the search model already has commitment from letting agents in Wales and student hall operators from across the UK.

In little over a day last month, more than 2,000 properties signed up to the site.

Director of University Cribs, Jack Jenkins, said a survey by UCAS showed that more than half of students would rather view properties online and his venture is providing what people want. 

He added: "It’s about time all properties most suitable for students are listed in the same place online.

"Agents are also crying out for a specialist student marketer to help them increase their property exposure. 

"University Cribs offers student accommodation providers just such an online marketing platform, ensuring their properties are seen by thousands of students in their local area.

“With our strategically built social media channels we are able to maximise their exposure to the target demographic."

A soft launch of the website is planned for August with a grand launch due in October in Cardiff and a number of south-west cities in England before rolling it out further towards the end of the year. 

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