Affordable homes at scale
Founder awarded Pride in the Profession award by RICS
Joined the Geovation Accelerator programme
Founder became the youngest ever Fellow of the Royal Institution of Chartered Surveyors.
First client secured – 60 homes
Second client secured – 40 homes
RenKap Secures Innovate UK Government Grant for Novel MMC Development Management Platform.
The housing market is broken. At RenKap, we are using a platform approach to deliver affordable homes at scale.
Our mission is to help alleviate the housing crisis and our vision is to become the largest housebuilder in the UK without directly building any homes.
We have not been building enough homes in the UK for the last 50 years. This has led to socio-economic problems such as the current homeless epidemic, the creation of generation rent and record levels of wealth inequality. Business models and market dynamics have meant that small public sector development sites (10-50 homes) are being ignored. Public sector landowners are forced to focus their limited resources on their large sites and the private sector housebuilders that dominate the market are not interested in the small stuff.
At RenKap, we make small development sites as efficient and lucrative as large sites by using our SaaS-enabled platform. The platform connects under-utilised land with the supply chain that can review, assess and deliver homes at scale, and our SaaS product enables our clients (large public sector landowners) to analyse and progress sites for development at a click of a button.
The small site market in London alone is worth over £5bn per year and it is free for the taking. Our initial focus is in London and we plan to expand nationally and internationally. Our novel business model and tech will propel us to become category kings in this unclaimed market. How do we make money? We automate 5 products and take a transaction fee at each stage. A key benefit of the property sector is that the ticket sizes are large and we take a +15% margin throughout.
We have recently launched the beta for our automated Site Investigation product and have secured and vetted 40 eager supply chain partners onto our platform. This product reduces our clients’ resource requirements by 99% and provides them with Site Investigation data on over 25 Site Investigation services. The output allows them to instantly make data-driven decisions on which sites to progress and which ones to sell. We have presented our beta to 3 supportive large clients and all three are now mobilising pilots