Tool to help property agents

Rasul-backed software venture raises £150,000

Shaf RasulA software joint venture for property agents created by a Scottish entrepreneur and a university spin-out has raised £150,000 in seed funding from angel investors.

Shaf Rasul (pictured) and Apply.Property have created a tool designed to cut administrative burdens for agents.

The venture, now valued at £2 million, has created an online booking service and is being used by Rettie & Co and Rent Locally. 

SRA Ventures believes there is huge potential for a new version tailored specifically to the commercial property market.

Apply.Property was founded this year by Edinburgh University students Sam Zawadzki and Bilal Khan, with Mr Rasul mentoring and providing early stage fundraising advice.

SRA Ventures owns and manages a diverse range of industrial, retail, commercial and mixed use asset properties across Scotland, focusing on under-performing commercial assets.

Mr Rasul, who appeared on the BBC’s online Dragon’s Den and is founder of E-Net Computers, said: “From our first meeting, I was immediately struck by the in-depth knowledge and ability that Sam and Bilal displayed.

“It was clear that they could offer something new and interesting to the market, and that their own ambitions might be realised through the right guidance.

“We now firmly believe that the exceptional potential of their residential software can be adapted and utilised for wide benefits in commercial property.” 

Mr Zawadzki said: “With the benefit of Shaf’s advice, we quickly focused on understanding and meeting our clients’ needs. His continual direction towards sales was vital in helping us to build early traction in the market.

“We are now very excited by the possibilities that a commercial property version of our software can offer to the market.

“In fact, we chose to work with SRA Ventures as the online application element of our software makes it easy to compare offers from commercial clients, and to review the credibility of their proposal. After doing so, we had no doubts that SRA Ventures represented the right partner for our business.

“We are also pleased to have major Angel investors on board, including Henry Yates who runs specialised commercial property site EstateCreate, founder of utilities comparison service Simply Switch, Karen Darby, and Julian Hucker of business text message marketing company Esendex.”


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