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By Nayantara Jha, Article Originally Published on WeeTracker, JUNE 18, 2018.

Cape Town-based proptech startup HouseME has raised a follow-up round from its core shareholders. The exact amount of investment remains undisclosed, though it is believed to be in the range of ZAR 3 Mn to 5 Mn. The shareholders of the startup are both institutional and angel funds, who participated in the follow up round.

Already managing property in four provinces, HouseME released this month its PlaceME Tool® which allows tenants to place offers for properties both above and below the landlords’ asking price. This feature is aimed at reducing vacancies for landlords and ensuring fair market pricing for tenants.

On securing this round, Ben Shaw, CEO of HouseME said, “core investors are choosing to follow-on in these rounds which is indicative of the growth and future trajectory that HouseME is seen to be following. We will continue our expansion across the country with this funding.”

HouseME was founded in 2016  and had secured its seed round in the following year. WeeTracker had mentioned in its previous coverage about the realtech startup’s plans to capture the untapped South African Market. The foundation of the startup is built on the profound thought of creating a world where good people get the best out of life.

The company offers the service on their platform to the landlords for a commission of 2.5% whereas it is free for the tenants. They keep the transaction transparent, and their digital placement mechanism ensures that landlords get the best price and tenants don’t face any discrimination. HouseME is plugged-in into most of the major online marketplaces. A property holder can list a property on its platform which is made visible to prospective tenants across the country. The startup’s IP tool increases an owner’s chance of having a rental price beyond their expectations, as mentioned by the team.

HouseME continues to focus on scaling its operations across South Africa and claims to have almost doubled its portfolio in the past six months. The startup is months away from revealing a new financial product aimed at tenants who struggle to finance their deposit. Although there is no comment on what this might look like, HouseME continues to push the envelope across the rental spectrum.