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u-rooms closes first round investment
property rental, landlord listings, student flats


u-rooms ltd is pleased to announce that it has successfully completed the securing of first round investment from Chadwick Holdings. This capital will enable u-rooms ltd to develop their prime proposition of www.u-rooms.com, an online marketplace matching landlords and tenants and targeting the rental, house-share and student accommodation sectors.

The Company, formed in June 2009 by Mike Peirce and Mark Davies, will employ innovative technology to provide landlords and tenants with the most engaging and empowering online customer experience, and ensure that the match between property and tenant is done in the most efficient way possible. www.u-rooms.com is currently in development and will be launching in Q1 2010 within the initial market of the UK.

Richard Douglas of Chadwick Holdings, said “Investing in u-rooms was the most compelling business investment opportunity we have seen this year, we were immediately impressed by the proposition and the team’s long standing experience in this vertical. The property rental sector has yet to fully grasp and utilise the internet to match landlords with their tenants and Chadwick Holdings are convinced this is the right team with the right plan to radically change the rental process using the latest internet technologies. ”

Michael Peirce, former CTO of lastminute.com and u-rooms CEO said “we were in a very fortunate position in having several potential suitors for first round investment, but Chadwick Holdings clearly distanced themselves from the others with their deep understanding of the market and ability to add value to our innovative strategy to disrupt the traditional high street estate agent model. We are very excited at the opportunities this has already presented to u-rooms as the dividends of working with Chadwick Holdings are already being realised.”

Richard Douglas and Stuart McKnight (Managing Director of Ascendant) join the u-rooms team as non-executive directors.

u-rooms will be launched in the first quarter of 2010 with the team currently working on securing round two of investment that will see them to profitability in 2011.

For more information on u-rooms ltd, contact Mike Peirce on +44 (0)207 0961 992 or via email at mike@u-rooms.com

www.u-rooms.com


Publisher Contact Information:

u-rooms
02070961992
mark@u-rooms.com

Company profile of u-rooms
Past press releases of u-rooms.

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