Hybr, an aggregated platform for first-time renters, including students and young graduates, has successfully secured what is believed to be a record £3.24m seed round, setting a new benchmark for the student rental industry.
26 year old Founder and CEO Hannah Chappatte said, “I am proud that we have secured an oversubscribed Seed Round, especially against the backdrop of this year, which has been a challenging time to raise capital.
“The funding marks the start of the positive impact we can have on the student rental space, and will enable us to accelerate our growth across the UK. We plan to launch in 20 key university cities in the coming 12 months.”
Already active in ten major UK cities, including London, Bristol, Manchester, Liverpool and Sheffield, Hybr aggregates all available homes for young people in one place, across private and institutional landlords, through a trusted platform.
This enables a smooth and efficient match-making process for landlords to access pre-qualified and supported tenants who have the tools they need to be responsible renters, ready to move into their new properties.
This record funding has garnered backing from many prominent investors including; Blackwood Ventures, Adjuvo, Alec Dent as part of the Atomico Angel Programme and individuals such as the former CEOs of The Office Group, Hannah Rothschild, serial entrepreneur Debbie Wosskow, Rosemary Leith, and Evelyn Bourke, the former CEO of Bupa.
Abbas Kazmi of BlackWood Ventures said, “We are excited to be leading Hybr’s seed round, as they disrupt the market for first time renters.
“Their platform provides a much needed solution for all participants in the ecosystem from first time renters to agents, operators and landlords, and we have been hugely impressed by their progress so far.
“We look forward to being part of Hybr’s journey on their important mission to revolutionise a space that has been overlooked and underserved for too long. We can’t wait to see them scale their offerings and truly believe that they have the right team in place to deliver on their ambitious plans.”
Mark Foster-Brown, CEO of Adjuvo said: “We were interested as soon as we saw Hybr’s proposition, as many Adjuvo members know first-hand the difficulties that arise from looking for, and securing, accommodation at the outset of university courses.
“Hybr has approached this market with a complete focus on the student’s experience, whilst making the process significantly easier for landlords. We are very excited to support Hannah and her team, as they scale up rapidly in the UK.”
Hybr’s focus is on using tech to improve relationships between landlords, agents, operators, and students. As it stands:
- c.10% of students drop out of higher education, largely because they can’t find a home (costing universities in the UK c.£2.6bn)
- Over 75% of students never hear back after they make an enquiry online for a student property
Hybr has ambitious plans to revolutionise a broken market worth £46bn in the UK alone, and they’ve already made a bold impact:
- Hybr is rapidly becoming the leading platform for first-time renters across the UK
- Users have currently doubled in numbers each quarter, with a threefold increase in landlords within the same period
- Hybr has 98% landlord retention rate, and is the best-rated student accommodation platform on TrustPilot (4.9)
- Hybr has raised £4.2m to date
Reflecting on the raise, CEO and Founder, Hannah Chappatte stated: “£3.24m is more than double our original target, which shows how ready the UK is for a solution like Hybr. This raise will allow us to expand our impact in a shorter time frame supporting millions of students across the UK to find the right housing, and support. This raise marks the beginning of our journey to improve the way young people rent.”