London-based lettings platform Yorlet has won £350,000 in seed funding to develop its payment Proptec solution.
Yorlet was founded by friends Max Cartwright and Will Stenhouse - now chief executive and chief technical officer respectively.
They say they were inspired by the technologies being developed by the likes of Shopify, Stripe and Airbnb, and have ambitions to become the primary provider of software and payments solutions to the £85 billion UK rental sector.
“Our mission is to help estate agents deliver excellent and meaningful customer service, realise ambitious growth plans and introduce new revenue streams. This investment will be dedicated to the success of our customers and in 2022 we remain focussed on continuously delivering market-leading solutions” explains Cartwright.
Yorlet provides an integrated suite of products to create tenancies, digitise rent collection, remit funds, and onboard landlords, and claims to be appropriate to letting agencies ofd all sizes.
The platform includes automated workflows, intuitive user interfaces and an array of payment options.
This latest funding round follows what the company describes as a very successful 2021 with record growth even through the pandemic.