Rental platform SpareRoom is to become a global phenomenon with some 40 million registered users in the UK, US and 18 other countries following its purchase of rival Roomgo.
The deal, which is for an undisclosed sum, triples the size of SpareRoom’s user database and makes it one of the biggest property rental platforms on the planet, building on its existing success in both the UK and US.
Used by landlords to find tenants and by tenants to find people to share properties with, SpareRoom is one of the UK’s unspoken digital success stories.
Started in 2004 by Rupert Hunt (pictured, above), a wannabe rock star who built websites in his spare time, the site has grown organically without the kind of start-up razzamatazz (or investor cash) that is standard these days for proptech firms. It now has two million visitors a month to its website.
Following the purchase of Roomgo off its London-based owner Digital Ventures Group, SpareRoom now has a presence in key global rental markets including France, Italy and Spain as well as Brazil.
“We’re excited to strengthen our position in the US and significantly add to 11+ million global registered users,” says Hunt.
“SpareRoom has long been the clear market leader in the UK. This acquisition gives us the platform to do the same in the US and beyond, and gives flatmates across the world the safe, simple and effective service we’re renowned for.
“Living with flatmates is a global way of life. Millions of people around the world share their homes and that’s only likely to increase over the coming decade. But it requires a different approach to simply renting or buying a property.”