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Virtual lettings platform used by 200 agencies secures £2m investment

An online platform aiming to link letting agents with tenants and landlords has raised £2m and now promises to use it to disrupt the rental market.

Goodlord says it operates as a communications medium between agents and tenants using software that allows the tenant to pay a deposit, trigger references and sign a contract online, reducing paperwork for all parties. 

Goodlord says some 200 letting agencies now use its services.

The platform was set up in 2014 by ex-Foxtons agent Richard White and software engineer Philip Mundy, and has now drawn financial support from LocalGlobe Capital and Global Founders Capital.

“Generation Rent is rightly demanding better customer service from letting agents. 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” says LocalGlobe’s co-founder Robin Klein.

“Our platform connects all the stakeholders and it does it in a way that is transparent and fair to all sides. 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” claims Richard White. 

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