Online property management platform Howsy raised £5m in investment led by Skybound Capital.

A number of existing investors also participated in the raise.

The London firm provides property management for UK landlords, offering the ability to find tenatns through to repairs management and renewals.

Founded in 2016, it offers fixed-fee management cost in an effort to save landlords money as a cheaper alternative to high street lettings agents. 

It was also the first national company to abolish renter fees, three years before the nationwide ban was implemented.

Based in Shoreditch, it has doubled in size each year, and plans to continue its growth with the new investment.

It said the latest round of funding will allow it to open a new operations centre in Coventry as well as expand its team by making a number of high-profile hires in senior positions.  

Marc Harris joins the executive team as CTO and will focus on the acceleration of Howsy’s technological innovation.

Harris previously led the tech divisions of enterprise social media platform CrowdControlHQ and BigHand, a Tech Track 100 and Profit Track 100 listed digital dictation and speech recognition pioneer.

Mark Hodson, previously of PayPal, notonthehighstreet and ACHICA, joins Howsy as CMO, and will bring his experience of marketplaces to the firm.

Final addition Steven Kemp, appointed as COO, joins from eBay-owned Shutl and will bring knowledge of building operational capabilities at scale.  

“We’re delighted to close on our largest funding round to date and this really cements our current position as one of the leading Proptech companies in the UK,” said founder and CEO Calum Brannan.

“We think that renting should be better for everyone.  Landlords and tenants have been underserved in this industry, and we are rapidly shaking it up through great technology and a focus on customer service. 

"We’ve already started to turn this around on a national scale and this latest raise, along with a few strategic acquisitions, should not only help us in our mission, but it will enable us to scale fast as well as look at opportunities outside of the UK.  We’re aiming to make renting a property as easy as booking a hotel.” 

Howsy’s board includes Nick Hynes and Carl Uminski, co-founders of Somo, and is chaired by Gillian Kent, foromerly MD of MSN UK and CEO of PropertyFinder.com, which sold to Zoopla.