Local proptech Company HouseMe Secures Funding

Startup stirs up Cape rent market

Cape Town-based proptech startup HouseME has secured an undisclosed amount of funding from new and existing investors. The funding will be utilised to extend HouseME’s position in the long-term digital rental and letting market. 

Ben Shaw, Chief Executive Officer of HouseME, says that the company is well-positioned to capitalise on the surge of interest in online platforms, especially in the long-term letting sector which had been lagging. 

“This latest round of investment coincides with our celebration of three years in operation. We’re gearing up further after having recently completed work on our improved user experience.”

Also Read: Africa’s Great Green Wall Just 4% Complete Halfway Through Schedule


Founded in 2016, HouseME has grown in strides and reports a user base of more than 150 000, further representing a substantial year-on-year increase.

See the source image

In a statement to Ventureburn, HouseME explains the aims of the proptech company. 

“HouseME’s mission is to create a world where letting and renting isn’t so fraught with stress, risk, and unfair discrimination. It’s their mission to transform residential renting, for every South African, by placing technology and data-centric decision-making at its heart. They’re committed to providing a service that offers the smartest way to rent, for landlords and tenants alike, making the whole process fair and stress-free.”

Shaw says that the company has benefited from the rapid switch to online by many South Africans.

“The number of units advertised on our site has increased materially since the beginning of the year, driven by larger property portfolios – many of whom are now moving digital, seeking the cost efficiencies of a long-term letting platform. As a result of the new normal, we’re also seeing increased interest in our risk mitigation products such as the rental guarantee.

This image has an empty alt attribute; its file name is GETFUNDEDAFRICA-Review-27.08.2020-3-1024x576.jpg

Covid-19 impacts on rental 

HouseME reports that pricing and tenant demand will remain muted over the next 18 months and this is supported by the latest PayProp Rental Index released last week.

See the source image

“With rental increases dipping to just 1.6% for the second quarter – half the growth rate of the previous quarter, and the lowest quarterly growth rate in its history – the index cites affordability as the major driving force behind the muted growth.“

HouseME recently conducted a large-scale survey that indicated that at least 28% of tenants had experienced a decrease in income due to the impacts of lockdown and Covid-19, which supports the findings of the latest index.

However, Shaw says that it is not all doom and gloom and claims that ” hundreds of HouseMe leases were renewed through the pandemic, and growth in listings still shows the potential ahead of the company.”

Read full article here

GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges

GFA Attract & GFA Weekly Round Up Podcast

In thIs episode of GFA Attract, we interview Lola and Layo, London based twin sisters who run London a fashion startup Let’sDressYouUp’.

Watch their exclusive interview here

In this episode of the GFA weekly round up segment we covered funding activity from across Africa between August 31 – September 4

Listen to the podcast here

Follow Us

See the source image
See the source image

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email:

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button