Evo secures £750,000 seed funding
By digitizing property repair, maintenance, and compliance services, Evo saves landlords significant costs, takes the hassle out of property management, and improves the tenant experience.
There are currently over 10 million rental properties in the UK, and as people seek greater flexibility, tenants are expected to outnumber owners by 2039.
Evo’s app allows tenants to report an issue within 30 seconds, effortlessly track its progress, schedule repair work at a convenient time, and communicate directly with the tradesperson. This, combined with market-leading real estate knowledge, Evo enjoys first-time resolution rates in excess of 90%.
Evo’s technology automates much of the communication and administration process involved with onboarding tenant properties and the repair event itself, reducing landlord costs and providing comprehensive property information. and wallet in one click.
Co-founder and CTO, Dean Shepherd said, “In a world where we wouldn’t consider buying a used car without a maintenance history, thousands of people sign leases every day without knowing the history of their next home. We believe repair, maintenance and compliance history should be available to every tenant and we work hard to make it a reality.
Evo is here to transform the experience and economy of repairs, maintenance and compliance for owners, renters, agents and tradespeople. With the Tenants Reform Bill due to come into force in the next few months, it is time for the UK rental sector to come out of the dark ages and embrace technology to drastically reduce the £20billion annual costs currently incurred by landlords, while improving the tenant experience and helping to tackle the UK homelessness crisis.
Given the macro backdrop, we are delighted to have secured the additional investment which we believe underscores the strength of our business model and latent market demand.
Jonathan Wicks, Chief Strategy Officer at GroVentive, said: “We are always keen to support high growth companies such as Evo, with a differentiating proposition in the market they operate in, a well thought out product that meets a clear demand customers and a well thought out solution. business strategy executed.
EVO currently works with private landlords, BTRs, letting agents, housing associations and local authorities as part of its shared mission to support people’s access to decent and quality housing.