WIN WIN Proptech Ltd (12034575): administration
- Status
- Administration ended
- Administration began
- 2023-09-12
- Administrators
- Ryan Michael Davies, Christopher Purkiss
- Administrators' firm
- Moore Kingston Smith & Partners
- Incorporated
- 2019-06-05
- Location
- London
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 5 June 2019 to provide technology platform solutions to institutional residential landlords. Where these landlords were struggling to fully occupy their apartment inventory, the Company provided a “turn-key” solution for short term rentals at scale - its proprietary technology handled operational intricacies; communication with guests; and priceoptimisation through third party booking platforms to increase efficiencies and cost-effectiveness for landlord clients.
The Director brought 4 years’ of experience from running a similar business through WWL allowing him to assess demand for the product; evaluate its position in the market; and identify potential investors to support growth.
The Company’s platform provided a competitive advantage for clients and in just 2 months from launch, some clients reported a 60% increase in guest revenue with no other changes to their existing operations.
Administrators' statement of proposals (2023-11-20) · Companies House register