Kernel Capital is to invest €650k in Dublin-based TCAS Online Limited (TCAS), a provider of student accommodation management software. €250k will come from by Kernel Capital through the Bank of Ireland Seed and Early Stage Equity Fund with the remainder of the cash provided by Enterprise Ireland and private investors.
Globally, the student accommodation market is estimated to be worth in excess of $200b. In the UK, the total student market is worth £19.5 billion of which student accommodation accounts for 24% – £50m larger than the UK chocolate market. TCAS has developed an online platform that allows customers to streamline and manage all operational aspects of student accommodation, resulting in higher occupancy rates.
“TCAS Online is exactly the type of innovative export-oriented company that Enterprise Ireland is keen to support. They are successfully winning new business in export markets,” says John O’Dea, manager high potential start ups at Enterprise Ireland.