Proptech start-up Plentific has raised £2m in funding, bringing total investment in the company to just over £2.9m.
The latest round of investment includes major backing from a number of high profile angel and tech investors and Property Innovation Labs (Pi Labs), Europe’s first venture capital platform to invest exclusively in early stage ventures in the property tech vertical.
Plentific, founded by Cem Savas and Emre Kazan, is a home services marketplace designed to help homeowners, landlords and professionals with technology-enabled services.
The platform has over 75,000 professionals listed across the UK and helps homeowners collect and compare quotes across over 350 services. The company has ambitions to develop a platform that is able to streamline the highly fragmented £235bn European home improvement sector.
The investment will be used to accelerate the development of additional features as well as to increase brand awareness.
Cem Savas, co-founder of Plentific, said: “We’re delighted with this investment which allows us to continue evolving our product and to start stretching our marketing legs.
“We are driven by making home improvements better value by removing the hassle of back-and-forth phone calls, protecting consumers identity, scheduling, sourcing quotes and payments, so people can focus on getting the work done.”
Plentific has earned the trust of Zoopla, Primelocation and the Planning Portal to power their ‘Find a Pro’ pages and will announce further partnerships throughout the year.
Dominic Wilson, Managing Partner at Pi Labs, added: “We’re extremely pleased to be backing Cem and Emre in what is a huge market opportunity. The home services market is a key investment theme for Pi Labs given the strong European consumer fundamentals and Plentific’s speed of product development and calibre of partnerships were decisive factors in our involvement.
“It is an excellent first seed investment for our new fund and represents exactly the type of innovative, tech-enabled product, led by a great management team, we are looking to invest in.”
Emre Kazan, co-founder of Plentific, concluded: “Pi Labs was a key VC we wanted to have in the round. They have been operating in the European property market for some time so their domain expertise and experience will be invaluable as we look to realise our ambitions of making Plentific Europe’s biggest home improvement marketplace.”