In addition to the apparent collapse of Upad at the weekend, there has been unconfirmed speculation about redundancies at a second online letting service.

Ideal Flatmate – a property platform for renters which launched in 2016 and now claims more than half a million users per month – has been crowdfunding in recent weeks.  In late August it claimed to have received over £750,000 in pre-commitments in just 24 hours, ahead of the start of the public phase of its crowdfunding campaign.

However, over the weekend there was speculation about redundancies: Letting Agent Today contacted the platform and its PR representatives, asking whether they wished to deny or confirm the speculation. The company said it was not going to comment. 

Amongst those suggested to have departed from the firm was sales director Jo Green, heralded as something of a ‘star signing’ when she joined the platform after being director of Private Rental Sector Client Services at LSL Property Services.

Ideal Flatmate was founded by entrepreneurs Tom Gatzen and Rob Imonikhe and its backers include David Pollock, a founder of London estate agency Greene & Co, which recently was rebranded as part of Countrywide’s Hamptons International.