Residently, the rental agency
platform which says it is on a mission to become the global renting brand, has
raised £7m for business expansion.
The investment has come from leading European VCs including Felix Capital, LocalGlobe and A/O PropTech, as well as existing angel investors. The funding will be used to grow Residently’s engineering and product teams, support building the rental portfolio in London and New York, and add extra services to its Living platform.
Founder and CEO Tom
Allason explains: “We are building the global rental brand by using tech to
offer flexibility and smart services to renters. We put them first because by
improving the experience for renters, we positively disrupt the economic model
for property investors and owners – enabling them to maximise their yield with
There are now a whole host
of proptech rental platforms which claim to be seeking to transform the
property renting and letting experience. However, Residently is a particularly
polished-looking operation. Currently the platform is modestly-sized and only
operates in London and New York. So, should it prove to offer the
transformation that renters as well as landlords are looking for – assuming
they are actually looking for change – then the potential for expansion would
appear to be huge.