Rental platform Goodlord - which in January made around 40 staff redundant in a restructuring move - has now announced that it’s secured a further £7m in funding.
Goodlord’s software platform allows letting agents to streamline the tenancy application process in one place and includes digital contract generation and signing, comprehensive referencing, and further products and services such as landlord and tenant insurances, utility and media-switching services.
Following on from its 2017 fundraising (also of £7m) the business has now secured a further £7m of funding, with the latest round led by new investor Finch Capital, supported by existing investors, Rocket Internet and Global Founders Capital.
The firm says the new funding will be used to build new products, grow its customer base, and invest in the further development of Goodlord’s proprietary technology to achieve its mission of making renting simple and more transparent for letting agents, tenants and landlords.
Goodlord, now led by new chief executive William Reeve - co-founder of LOVEFiLM and formerly involved with Zoopla - says it is on track to grow its tenancy volumes by over 90 per cent and its revenues by around 80 per cent over those recorded in 2017.
“With this new funding we will continue to pioneer a better, simpler and more transparent approach - one tailor-made for Generation Rent” says Reeve.
Radboud Vlaar, a partner at Finch Capital, is now joining the Goodlord board.