Toby Thomas-Smith, a co-founder of Kiki (formerly EasyRent), revealed in an exclusive update to TechCrunch that the company has raised $6 million in initial investment and is revolutionizing the subletting industry. In the next fall, the business will relaunch in New York City. Kiki stands out from other platforms that cater to landlords looking to make a profit by placing a distinct emphasis on community development and addressing the requirements of people looking for short-term rentals of up to six months.
Seed capital and illustrious backers
A big accomplishment for the venture capital firm, Blackbird Ventures, led the charge on the initial funding by donating $4.5 million to the cause. Prominent members of the tech community took part, including former Bumble CEO Michelle Battersby, Facebook Marketplace creator Bowen Pan, and former Airbnb executive Harry Uffindell. Drawing on his knowledge of Facebook Marketplace, Pan commended Kiki’s idea of a “community-led marketplace” and emphasized the usefulness of the service.
Strengthening People, Not Landlord
Kiki has its eyes set on a new market segment in an environment where landlords with an eye toward investment are making money off of websites like Airbnb. The website targets regular individuals who travel frequently and don’t want their homes to lie vacant and unoccupied, racking up excessive rent costs. Thomas-Smith claims that Kiki doesn’t want to compete for homes, but rather maximize the use of currently unoccupied areas.
Strengthening People, Not Landlords
Kiki has its eyes set on a new market segment in an environment where landlords with an eye toward investment are making money off of websites like Airbnb. The website targets regular individuals who travel frequently and don’t want their homes to lie vacant and unoccupied, racking up excessive rent costs. Thomas-Smith claims that Kiki doesn’t want to compete for homes, but rather maximize the use of currently unoccupied areas.
Beyond Listings: Establishing Links
Kiki’s profile architecture, which is similar to well-known dating app Hinge, makes clear how much of a priority it places on building human interactions. Utilizing questions like “How would your friends describe you in one sentence?” and “I go crazy for,” renters add a personal touch to their profiles. By adding factors like preferred ages and no-smoking restrictions, listers may further refine the matching process. 
In charge of the experience
Kiki enables a flawless subletting experience in addition to matchmaking. Users of the platform have access to features that allow them to monitor payments, safely keep deposits, and electronically sign sublease agreements. Kiki deducts 10% of the rent cost in return for these amenities.
From the beginning to the growth
While living in New Zealand, Thomas-Smith launched Kiki in 2018, drawing on his experiences with Airbnb. At first, he was concerned with students renting out their residences during breaks. Co-founder Jack Montgomerie and software developer Alexander Nicholson joined the company as the platform grew in popularity, allowing Kiki to expand to Sydney’s Bondi Beach neighborhood.
Conclusion
Kiki is ready to revolutionize the industry with her creative approach to subletting, which is supported by significant startup capital and a dedication to community-driven solutions. Kiki provides a compelling alternative to conventional subletting platforms by effectively using existing spaces and leveraging the power of personal relationships to satisfy the requirements of both renters and listers.
Kiki’s Innovative Approach to Subletting Gains Momentum with $6M Seed Funding
