Kiki, a subletting startup that is set to transform the way people find temporary housing, has successfully raised $6 million in a recent seed round. The funding will be used to support the company’s upcoming relaunch in New York City later this year. This announcement comes as a great success for Kiki, formerly known as EasyRent, demonstrating the growing interest and potential in the subletting market.
Revolutionizing the Subletting Experience
Kiki takes inspiration from dating apps in its unique approach to matching listers with potential renters. By using algorithms and user preferences, Kiki aims to create compatible matches, making the process of subletting feel more comfortable and secure for both parties involved. This innovative approach has attracted significant attention from tech industry veterans and investors, including Harry Uffindell, former Airbnb executive, and Bowen Pan, founder of Facebook Marketplace.
Aiming to Fill the Gap for Long-term Travelers
While landlords are often turning to platforms like Airbnb to rent out their empty properties, Kiki focuses on catering to the needs of everyday people who are not looking to make a profit. The app is designed for individuals who frequently travel for extended periods and do not want to lose money on rent while they are away. By utilizing empty spaces that already exist, Kiki helps bring financial benefits back to local communities.
Fostering Trust and Connection
Kiki’s invite-only “friend of friends” model ensures that users are vouched for and promotes a sense of community and trust. To join Kiki, users must link their Instagram accounts and undergo a thorough screening process. The app emphasizes the importance of human connection and psychology, aiming to turn strangers into friends of friends as quickly as possible.
Enhanced User Experience
Kiki offers a user-friendly platform with features such as profile creation and criteria setting. Similar to popular dating app Hinge, renters can answer prompts that help describe their preferences and interests. Listers can set specific requirements for their listings, such as age restrictions or preferences for non-smokers. Additionally, Kiki provides a management feature that enables users to keep track of payments, deposits, and sublet agreements, streamlining the administrative side of subletting.
Key Takeaway
Kiki, a subletting app, has raised $6 million to support its innovative approach to matching listers with renters. With a focus on fostering trust, community, and convenience, Kiki aims to revolutionize the subletting experience for both landlords and tenants. By combining elements of dating apps and user-friendly features, Kiki has the potential to disrupt the traditional rental market.
Expanding Horizons in the Future
Kiki’s successful funding round paves the way for its expansion plans. The company has its sights set on the top 10 cities in the US, including Los Angeles, San Francisco, and Chicago. With a future Series A funding round already in the works, Kiki is poised to grow its team to 100 employees and launch in 20 cities in Europe by 2024. This ambitious vision highlights Kiki’s commitment to reshaping the subletting market on a global scale.
In summary, Kiki’s recent funding round and upcoming relaunch in New York City symbolize a significant milestone in the company’s journey to transform the subletting market. By applying dating app concepts and prioritizing user trust, Kiki is set to redefine the way people find temporary housing. With plans for expansion and further innovation, Kiki is poised to make a lasting impact in the rental industry.
