Subletting app Kiki raises over $9m in round led by Blackbird Ventures

The news: Subletting app Kiki has raised USD6 million ($9.3 million) in seed funding, TechCrunch reported.

The numbers: Blackbird Ventures led the round, contributing USD4.5 million, the VC firm's second biggest endowment to date. Kiki works like a dating app in matching listers and renters with similar likes and preferences, and it takes 10% of the rent price for each listing.

The context: The seed round attracted several big names in the space, including former AirBnb executive Harry Uffindell and Facebook Marketplace founder Bowen Pan. The startup's founders said the concept was aimed at people who travelled for months at a time but didn't want to lose money on rent.

What they said: "We’re not taking away housing,” Kiki co-founder Toby Thomas-Smith told TechCrunch. “We’re using empty space that’s literally already there … we’re bringing money back to the locals."