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New tech service to 'remove pain' for landlords and tenants

Thursday 16 March 2017

A new property technology firm which aims to transform the private rental market by making transactions quicker and more transparent has received £7.2m funding from a Silicon Valley investor.

The cloud-based platform, created by Goodlord, is designed to help agents find and secure property for tenants, ensure landlords receive tenants’ references quickly and collect deposits and rent online. 

Goodlord, which has already processed tenancies worth more than £200m, has already sold its services to some of the UK’s largest estate agencies, including Strutt & Parker, Life Residential and RE/MAX. 

Richard White, chief executive and co-founder of Goodlord, said: “This funding will allow us to move to the next stage in our plan to revolutionise the way that rental property lettings are done, taking away the pain for both landlords and tenants.

“More and more people will be renting their homes for longer. They want to see quick, professional and efficient service from both agents and landlords. 

"Goodlord can provide this in a way that is familiar to a generation that expects to complete purchases, order take-aways and hail a taxi using their phone in seconds.”

New services aimed at landlords and tenants are being launched regularly. 

The startup also received new money from existing investors LocalGlobe and Global Founders Capital to help enhance its rental transaction platform. 

It is the firm's second major fundraising in seven months and will enable the 'proptech' business to improve the technology behind its service.

Meyer Malka, partner at Ribbit Capital which invested the £7.2m, said: “We see huge potential for disruption in the way that rental property in the UK is transacted. 

“Goodlord is using technology to build transparency and ease of use for one of the most important moments in a consumer life: choosing a home to live in.”

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