PocketRent seeks investors
A campaign has gone live on crowdfunding platform Equitise to raise capital for property management software PocketRent.
Wednesday, September 30th 2015, 12:00AM
by The Landlord
The company is seeking $200,000 to $400,000 in investment, which would represent a 13.3% stake at the minimum level.
The software-as-a-service product was launched 18 months ago and has 1888 users. About four hundred of those signed up over the past three months.
Half are in New Zealand but others are in Britain, US, United Arab Emirates, Australia and Ireland.
It is predicting it will make a profit by 2017.
PocketRent is a web and mobile app that allows property owners and managers to easily monitor their properties and improve communication between tenants and landlords.
Functions include automatic rent reconciliation - Xero software provides daily reporting so there is an immediate alert if a rent payment is missed, reporting support and account integration, and maintenance, inspection and building and complex management.
Mark Huser, PocketRent managing director, said it would cover the main “pain points” for landlords and investors.“Everything is in one place so everyone can know what is happening with the property at any one time.”
He said the money raised via Equitise would be used to fund PocketRent’s growth. “The vast majority will go straight to sales and marketing.”
The company planned to focus on expanding into the UK, he said. “It’s a great market with seven million homes for rent, the market is massive with no direct competition over there.”
The Equitise campaign runs for a little over a month.
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