Symvan Capital led the seed round to support the firm in scaling its team and accelerating product development.
"Symvan Capital and the University of Strathclyde's decision to invest in PropEco underscores the growing importance of integrating environmental and social factors into financial and property decisions."
The funding round includes backing from SFC Capital and Clearance Venture Partners to support research and development.
"We are thrilled to receive this substantial support from such high profile investors and grant providers. This funding not only validates our vision, set out in our early days in the Venture Builder Carbon13, but also empowers us to accelerate our growth and bring transformative solutions to the housing market."
The pre-seed round was facilitated by funding platform Fundmypitch.
"My initial thought was that the platform seemed too good to be true. It was incredibly simple to get started, and with no costs involved if you don't raise funds, there was no risk."
Fuel Ventures led the pre-seed round, which will fund platform development and new housing association partnerships.
"The shared ownership market in the UK is currently facing significant challenges and the results of Stairpay’s pilot with Clarion Housing has demonstrated the potential of innovative solutions to address them. By leveraging data, the platform simplifies and enhances the shared ownership experience for both housing associations and residents. We are excited to support Floris and the team in their mission to help more people achieve their dream of owning a home."
Octopus Ventures joined returning backer AXA IM Alts in backing the social housing technology provider.
"Switchee has been doubling year on year for the last three consecutive years. We are really proud of the Switchee journey, and the ethics and values we have built in the business are critical to us. We have had some great investor partnerships over the years and are thrilled to see AXA IM Alts further invest in us, and warmly welcome Octopus Ventures as a new investor. It is a sign of their trust in the team’s ability to execute our strategy; and we also see it as a stamp of approval in terms of the impact we are looking to achieve."