EVO is making housing repairs easier, faster and fairer for everyone in the UK's property rental sector
- £744k revenue in CY22, £100k MRR projected in March 23*
- 5,500+ properties already using the Evo Platform
- Property maintenance market opportunity worth £30bn
- Working in partnership with 20 London Boroughs
The Rental Property Sector is Broken
In a digital world, where nearly everything can be done online, the rental experience for tenants, landlords and service professionals feels like going back in time.
❌ Tenants are less patient and are demanding a better way to report repairs, manage appointments, pay rent and find information.
❌ Landlords and Property Managers agree that arranging property repairs and staying on top of compliance is a time-consuming process, with a lack of cost transparency.
❌ Trades and Service Professionals are thwarted by poor information on repairs booked and a lack of service history information, reducing their ability to fix problems first time.
✅ A digital property management solution that seamlessly connects landlords, tenants and tradespeople with simple, easy to use technology, to drive customer satisfaction whilst dramatically reducing cost to serve.
Substantial accomplishments to date
📈 Monthly revenue run rate expected to reach £100k in March 2023*
💷 Delivered £744k revenues for year to 31 December 2022*
🏠 5,500+ properties on the Evo Platform
🏢 Service plan with British Land portfolio over 3 years
📝 Contract with Capital Letters for 20 (out of 32) London Boroughs
🤝 Partnership with Storm Housing Group
📆 Expected Lifetime Value per property is £1,903 over 7 years
🛠️ First time fix rates >95% to date
😀 Customer retention >97% to date
📊 Probability adjusted sales pipeline estimated to be valued over £40 million
👷 >6,000 vetted trades people, including partnership with Orderwork
📋 ISO 27001/45001/14001/9001 accreditations
📺 295k+ YouTube views in 2 months
EVO charge a fixed-price subscription, eliminating surprise costs and providing a reliable 24/7 response, so repairs are quick, easy and transparent for everyone.
There are over 10 million rental properties in the UK and renters are expected to outnumber homeowners by 2039. Landlords currently spend c.£30 billion on repairs, maintenance and compliance, and an additional c.£20 billion on management annually.
Millennials shoulder the largest rental cost increase and many believe they’ll never be able to own a home. This 'Generation Rent' have understandably higher expectations of how rental homes should be maintained.
EVO aims to onboard 300k+ properties by 2026 which equates to ~3% UK market penetration.
To do this EVO is targetting 3 key verticals:
1. Private landlords
2. Major lettings agents and aggregators
3. Social housing providers and large scale property investors
Use of proceeds
Evo has raised £1.2 million to date and is now seeking to raise £1,000,000 with a pre-money valuation of £7.25 million.
We are seeking investment to further develop the EVO platform, roll out our subscription plans and shake-up the rental service market.
Funds will be primarily be used for sales and marketing. Product development will focus on 3rd party integrations and multi-tenant solutions with the aim of delivering a pure SaaS digital product for the UK's rental sector, broadening our customer reach with property management software off the shelf.
Through comprehensive property knowledge, smart repairs diagnostics and augmented reality remote visual assistance, our goal is to continue improving first-time fix-rates as well as assisting, landlords, tenants and tradespeople to reduce waste, lower energy consumption and mitigate fuel poverty.
*Based on unaudited management accounts
Please note, £657,000 of the raised funds reflected in the campaign were received by the company in August and September 2022. These investments are a part of the same round and are on the same terms as Seedrs investors.
The funds from this campaign are expected to give the Company at least 9 months runway based on their current sales profile & expected income from an R&D tax credit due in May.
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
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