PropTech start-up Ideal Flatmate has cancelled its crowdfunding campaign on the Seedrs platform.

The AI-powered flatmate finder was founded in 2015 by Thomas Gatzen and Robert Imonikhe.

It uses the answers to 20 scientifically researched questions about lifestyle and living habits to match people looking to rent shared accommodation.

“As you may be aware, we have decided to cancel our Seedrs crowdfunding campaign,” wrote Tom Gatzen in an email to Seedrs members.

“Over the past month, we have changed our business and fundraising strategy, meaning the valuation for new investors is now lower than that which was displayed on our campaign page.”

“We would like to thank you for your interest and declaration of intent to invest in the business as part of the campaign."

The start-up, based in London, previously raised £1.3m from seed funding which included investment from Scottish entrepreneur Steve Leach.

Its Seedrs page appears to have been taken down, but Gatzen stated in the email that those interested in speaking about its new strategy or still interested in investing should make contact directly.