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Student accommodation website Uniplaces was able to raise more than GBP 700,000 in seed funds. Octopus Investments led the round. Zoopla Property Group Founder and Chief Executive Officer Alex Chesterman and Graze.com Chairman William Reeve also participated in the round.

Uniplaces has a secure and user-friendly website which gives a platform that allows students to book their accommodations. They allow students to choose from privately-rented accommodation to student residences which are professionally managed. The website allows students to book their online accommodations safely through its high-quality property profiles.

Through the company's website, students can simplify the booking process for students. At the same time, it also minimizes marketing costs for the providers while maximizing their occupancy rates. Through their service, Uniplaces was able to address what has historically been seen as a fragmented market. Offline transactions and the time-consuming and costly process of looking for accommodations and the dearth of information of which the student could rely on were also addressed by Uniplaces' platform.

According to Uniplaces, international students found their service useful as they needed to arrange the places where they would stay before their arrival.

Uniplaces was established in Lisbon last year. It received the backing of Shilling Capital Partners together with angel investors Chesterman and Reeve. Starting in June this year, the website is headquartered in London. The company has over 6,000 rooms listed in London as well.

Octopus Investments Ventures team member Rebecca Marshall said, "Uniplaces is an innovative business model that has found a niche in a large and attractive market. The growth in the number of students, in particular those travelling abroad for university courses, is giving rise to an increased demand for reliable accommodation, particularly that which can be booked online."

Uniplaces Co-Founder Ben Grech said the funding would enable the company to expand in cities worldwide where the service is needed.