New PropTech ‘Disruptor’ - Major cash injection f...

A student lettings platform now operating in seven cities is reported to have raised £700,000 in its first funding round.

HYBR – the title is described as a play on ‘hibernate’ – has been founded by 24-year-old Hannah Chappatte and claims to be a one-stop shop for students and landlords seeking matches.

HYBR operates in Bristol, Lincoln, Lancaster, Liverpool, Sheffield, Bath and Exeter and aims too be in a total of 30 by next year before expanding overseas.

Chappatte says: “The message from students is clear: change is needed. Having a positive living experience keeps students in uni, stops them leaving their rentals early and improves the mental health of all involved – it’s a winner for students, landlords and universities.

“Across the UK the relationship between students and landlords has broken down – we are changing that.”

HYBR says it operates in a more student-friendly way than traditional letting agencies, with free housemate matcher events, help with contracts, guarantors and legal services.

The £700,000 will go toward marketing plus paying for a new senior team.

Late last year, as Chappatte was launching the service, she told Letting Agent Today: “Students should be excited about moving out and being independent for the first time. Instead they waste valuable time that could be spent studying or having fun locked in battles with landlords and lettings agencies, or trawling through disappointing properties

“Every year this cycle repeats – it doesn’t work for anyone and has created a toxic market where students don’t trust landlords and landlords don’t trust students.

“Ultimately, this is about fixing a broken a market. I want to question every part of the rental system and the status quo to see if there’s a solution out there. Every part of the market is geared against underprivileged students who don’t have guarantors – we also want to help them.”