Homeppl, the tenant due diligence and guarantee technology business, has closed a funding round, bringing its post-money valuation to $13.5m (£9.8m).
The investment will drive the next phase of growth for the business as it moves towards its Series A round.
Homeppl has been oversubscribed in recent months and this funding will be used in the short-term to address this.
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The round has been led by two global venture capital investors, Hong Kong based VC ParticleX and Venionaire Ventures, on behalf of European Super Angels Club.
The latest capital raise brings the total seed funding to over $5m (£3.6m).
Alexander Siedes, CEO and co-founder of Homeppl, said: “This funding provides strong vindication of our proposition and the impact we are having on the market, bringing huge value to tenants, landlords and agents alike.
“The team at Homeppl are acutely aware of the problems renters and landlords face which is why we are determined to change the way things are done for the better.
“That is exactly what this investment is all about.
“We have raised double what we expected, which will enable us to innovate and grow faster than we could have anticipated.
“Most immediately, we will soon be launching into several European cities, and I am grateful for the support from our investors as this will enable us to springboard into the next chapter.”
Berthold Baurek-Karlic, managing partner at Venionaire Capital and president of European Super Angels Club, added: “The entire team and I are very proud to become part of Homeppl’s growth story, particularly at such an exciting stage in the company’s life cycle.
“Alexander and the team are extremely passionate about the work they’re delivering and its unique technology for the rental market.
“This company has everything needed to become a unicorn one day.”