West Midlands based data insights company Property Filter has raised £584,000 in seed round funding. The investment was led by £500,000 from the Midlands Engine Investment Fund (MEIF I) through the MEIF West Midlands Equity Fund, managed by Midven, part of the Future Planet Capital Group, alongside a syndicate of angels.
This significant investment will enable the company to focus on its product development. Key milestones include alongside launching a mobile app, carrying out freemium models, extending AI capabilities, and integrating new service lines.
Property Filter’s SaaS platform was originally developed as an in-house tool to expedite the founder’s own property investment journey. The tool aggregates and delivers data insights to facilitate property investment decisions. The platform leverages data to provide sourcing agents and property investors with a step-by-step blueprint to find opportunities within the market. The results are tailored towards the user’s individual investment strategies.
Property Filter is currently integrating its platform with education providers to make courses and programmes more effective. The courses are designed to provide insights that will allow mentees and students to achieve better results.
The UK property market is a vital part of the economy. A recent study showed that it generated turnover of over £65 billion in 2022. Property Filter is well placed within this landscape to empower its customers with reliable data and insights, while establishing itself as an industry leader in the prop-tech industry.
Midven has supported Property Filter, providing strategic guidance to improve the business’ investment readiness. With this substantial funding, it will continue to concentrate on enhancing its product range and services.
Surjit Kooner, Investment Director at Midven says: “Property Filter has the technology that has the potential to streamline the due-diligence process, enhancing efficiency and broadening the scope of opportunities for professional investors. We are looking forward to working with them and being a part of their journey.”
Guillaume Black, CEO of Property Filter says: “This injection of funds is rocket-fuel to Property Filter’s mission to shake up property investment. Our mission is to revolutionise property investment through cutting-edge data insights, fuelling key initiatives like the launch of our mobile app and expanding our AI capabilities. This is a significant milestone for Property Filter, and we’re excited about the journey ahead.”
Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “The Midlands Engine Investment Fund invests in innovative solution focused Midlands based SMEs with high growth potential. MEIF’s recent investment in Property Filter is a good example that showcases the MEIF’s commitment to regional businesses. I would encourage other Midlands SMEs with growth potential that are in need of funding to get in touch.”
The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
