Residently Raises £7m For Expansion

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 minimum hassle.”

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.

Source Residently
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