Proptech platform goodlord closes £2m in seed funding

Funding will help “Transferwise of the rental market” enhance its software and build out its infrastructure

goodlord, the London-based property technology (proptech) start-up, has raised £2m seed funding from LocalGlobe – the new fund from father-and-son duo Robin and Saul Klein – and Global Founders Capital.

Founded by Richard White and brothers Philip and Tom Mundy, goodlord is a cloud-based service that connects tenants, landlords and letting agents on one smartphone app in an attempt to make lettings more transparent and easier for all parties.

The company – which is aiming to become the “Transferwise of the rental market” – says its software is already in use by 200 letting agencies across the country, with several thousand tenancies worth millions in rent.

The funding follows an initial seed round last July and will be used to build out goodlord’s infrastructure and enhance its software. By the end of the year, the business hopes to have 10% of all the UK’s letting agents on its platform.

White commented:

“With the help of goodlord’s service, renting a property becomes a transparent process. Tenants don’t have to leave work early to trudge around flats and fill out paperwork.”

LocalGlobe’s Klein added: “For too long tenants have felt powerless in a market where transactions were anything but transparent. We believe that goodlord can transform the way lettings are carried out across the UK and become the backbone of deals in the rental market.”

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