A digital property management platform that automates the rental process including marketing, bookings, reference checks, maintenance and compliance, claims it is now worth £3.5m.
The company is seeking £350,000 crowdfunding investment and on the Seedrs investment platform it values its service at £3,524,962.
NoAgent is chaired by Gillian Kent, once employed by News International to run Propertyfinder as a rival to Rightmove.
NoAgent’s pitch to investors is that it is already three months ahead of its business plan targets for customers, with over 3,000 registered users. “Over the past five weeks from November 4 2016 our blended cost per registered user has fallen by 96 per cent” claims the company.
Kent claims NoAgent is the only service that completely automates tasks that are traditionally undertaken by letting agents.
“Strategically what we’re doing is empowering landlords to fully manage all aspects of the letting of their property – and save money as a direct result. Agencies currently earn £115m a year in fees doing these sorts of tasks” she says.