Splittable raises $1.2m from Seedcamp et al.

Alice Murray
29 October 2015

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London-based property technology startup Splittable has raised $1.2bn from venture firms Seedcamp, Playfair Capital and the London Co-Investment Fund.

The London Co-Investment Fund is founded and managed by Funding London and Capital Enterprise. It has raised £25m from the mayor of London's Growing Places Fund for co-investments in seed rounds.

Also participating in the round were angel investors Lord David Young, a former enterprise adviser to the prime minister; Ricky Knox, the founder of Tandem and Azimo; Peter Rading, the former head of global trading at RBS; Wahanda chief technology officer Simon Lambert; and Will Neale, the founder of Grabyo.

The fresh capital will be used to expand the company's engineering and marketing teams, to increase marketing campaigns and to fund the set-up of an integrated payments platform.

Furthermore, the company is looking to create partnerships with universities, student unions, landlords and agents with a focus on student and young professional lettings.

Company
Splittable is an app – available on the web, iOS and Android – that helps people in shared houses to manage shared expenses.

People
Nick Katz is the co-founder of Splittable while Vasanth Subramanian is co-founder and chief technology officer. Reshma Sohoni is a partner at Seedcamp.