Allotme, a London-based online platform that connects gardeners with available space to grow their own, announced on Monday that it has secured £250K funding to improve its digital platform, which has targeted a 2,000% growth in hosts over the next 18 months
Out of £250,000 investment, VC firm QVentures invested £120,000 and more than £50,000 from the HBAN Angel Network in Northern Ireland.
How will the funding be used?
The funding announcement comes as the startup prepares to launch AllotMents 2.0, a summer campaign to recruit hosts to the site and ramp up the available space for rent by would-be greenfingers.
Conor Gallagher, founder says, “AllotMents 2.0 will focus on encouraging hosts to think about how the platform can enable their space to work for them, whether that’s earning money to spend on other things; managing outdoor space they can’t, or help the environment through passive sustainability.”
Founded by Conor Gallagher, AllotMe’s online platform pairs anybody with available outdoor space with people seeking somewhere to grow their own, known as ‘greenfingers,’ allowing them to rent plots in just a few clicks.
Gallagher says, “This backing from QVentures, HBAN Angel Network, and other angel investors shows the faith people have in what we’re out to achieve at AllotMe, and the investment will play a massive part in driving the next chapter for the platform.”
Since its inception in May last year, the online marketplace has surged in popularity, with more than 100 hosts listing underutilised space to grow fruit and vegetables across the UK.
“The first year of AllotMe has shown the massive potential of the platform, from both hosts and greenfingers, and the time is right to invest in scaling up the technology and reach of the business to meet the demand,” he adds.
How does it work?
Hosts who are ready can list their garden space on the open AllotMe platform for free, setting a price which suits them with details like the size of the plot, some photos, and information on how it can be utilised.
The host can also set how much of the garden, and how much access to allow.
Interested Greenfingers can then enquire about the plot, which hosts can review with the decision entirely at their discretion. After a rental request is accepted from a Greenfinger, AllotMe will pay hosts each month, minus a small percentage fee.
Customer support is available for hosts and renters 7 days a week, and there is a ‘Garden Guarantee’ that covers damage to property.
QVentures is a VC firm providing direct investment opportunities and fund management in top-tier startups from Seed to Series B. The VC has participated in rounds with an aggregate combined size of over £351M in 115 companies.
Robert Walsh, Managing Partner at QVentures says, “QVentures is proud to support AllotMe on its journey to creating the future of cities and a more sustainable future for the next generation. We’re also very happy to be working alongside Conor Gallagher, an innovative founder, and architect disrupting this industry.”