HMO PropTech platform claims fast growth amongst agents

A PropTech platform that boasts 200 letting agents and landlords amongst its current clientele has won over £500,000 in additional funding from existing investors.

Worcester-based COHO claims to be the only platform of its type specifically designed for HMOs. It allows property investors to manage their portfolio and tenants to find a house share with like-minded people.

The platform was launched in 2021 by serial entrepreneurs Vann Vogstad and Liam Cooper and inspired by Vann’s own experience of living in shared housing. In the past 12 months it claims a 10-fold increase in annual recurring revenue.

The platform also says it’s growing by around 20 per cent month on month. 

The latest funding brings the total raised by the company to £750,000 and will help it continue its growth trajectory with the aim of raising a Series A funding round in the next 12 months.

Vagstad, who is chief executive, says: "We set out to change the perception of co-living to make it a positive choice for people of all ages. However we recognised that what was lacking was a platform that made house sharing easier to manage for both landlords and tenants. COHO aims to fill that gap. The latest funding will allow us to continue our growth journey and establish it as the Airbnb for shared living.”

One of the investors - Kiran Mehta of asset management firm Mercia - says: “With people renting for longer, co-living is a growing trend. COHO is the only property management platform specifically designed for the sector and the rapid growth in uptake demonstrates the need for it. Vann and the team have made remarkable progress in the space of one year. We look forward to working with them to make it the clear leader in its field.”