PropTech Goodlord has secured £10m funding.
The London firm plans to double its client base and expand its suite of products, which handles the entire rental process through a single interface.
In 2019 the company doubled both its headcount – from 47 to 97 – and customer numbers.
Latitude Ventures, the Series B+ sister fund to LocalGlobe known for backing scaling European success stories such as Transferwise, Zoopla, Monzo, TravelPerk, and SecretEscapes, was included in the Series B round.
The round was also backed by Finch Capital, leaders in the European FinTech space, and welcomed Oxx as a new investor.
Oxx recently raised $133 million to back ‘Europe’s most promising SaaS companies’ at Series A and beyond.
Goodlord CEO William Reeve, a co-founder of LOVEFiLM and founding director of Zoopla who took the helm at the company in early 2018, said: “Last year saw hundreds of businesses join Goodlord and we’re delighted to be starting 2020 by welcoming the investors Latitude Ventures and Oxx Capital.
“Despite the UK rental sector having grown to over 10m households, a deeply flawed process remains the status quo, which is stressful for tenants and time-consuming for agents.
“Our mission to provide the best rental experience in the world remains as relevant as ever and, with this new investment, we have the tools we need to achieve it.”
Julian Rowe of Latitude Ventures, who is joining the Goodlord board, commented: “For many people under the age of 40 the rental market is the housing market and Goodlord is passionate about modernising it for millions of people.
“By creating software that increases the professionalism of letting agents and reduces the stress of finding and securing a home to rent, Goodlord is supplying an essential service to meet a key need.
“With more people predicted to be renting than owning by 2039, we’re delighted to back Goodlord on its mission to create the best rental experience in the world.
“I’m joining a board that has the sector knowledge, experience and energy to build one of the UK’s most successful property technology companies.
“The rental market is complex and tenants and agents have multiple needs, which Goodlord’s highly skilled team are addressing while creating a strong, impactful business that improves the everyday lives of many people.”