Rent house London, an app designed to help people rent homes, has raised over £6m through a crowdfunding campaign.
The app, which is set to launch in early 2018, aims to help “make renting a more enjoyable experience for all parties involved”.
It was founded in 2013 and has been supported by the European Union and the UK government.
It currently has a market valuation of £1.6m.
“The goal is to get the app in as many homes as possible by 2021,” a statement on the company’s website said.
“We have more than 30 million members and we will be working hard to get to 100 million by 2020.”
A key difference between the app and traditional rental sites is that it allows members to rent out their home to other people, so they don’t have to go through the hassle of going through a landlord or agent.
The founders of RentHouse said they hoped the new app would help “get people into homes they would otherwise not want to rent”.
“With RentHouse, you can have an apartment that’s perfect for you or your family, but you don’t need to worry about finding a landlord,” the company said.
A spokesperson for the European Commission said it was “monitoring the project closely”.
“The EU is committed to ensuring that all people have a right to choose and use the best way to rent,” a spokesperson said.