Online letting platform lettingaproperty.com has achieved over 100% of its £850,000 funding target following the launch of its Seedrs public crowdfunding round on 24 January.

The target – which includes an initial raise of £750,000 from the MEIF Proof of Concept & Early Stage Fund, managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s EIS funds – has now been uncapped, as the Seedrs campaign approaches its final week.

The company manages more than 1,500 rental properties across England, Scotland and Wales and has seen 80% subscriber growth over the last two years. This resulted in £1.1m revenue in 2022, £800,000 of which was recurring revenue from its fixed-fee subscriptions.

The business said detailed budget plans are in place, with a focus on driving marketing activity to further boost recurring revenue and capture greater market share. Funds raised will also fuel the firm’s technology roadmap, while supporting the recruitment of specialist roles across the organisation.

“We are delighted with the appetite that has been shown for investment in lettingaproperty.com as a result of our public crowdfunding campaign,” said Jonathan Daines, founder and CEO. “Given the strong demand from investors, our board has unanimously agreed to extend our initial funding target.”

Having recently launched its new SaaS rental platform, lettingaproperty.com enables landlords to manage the end-to-end letting process online. The platform includes digital wallets, OpenBanking, and instant messaging to support secure tenant-landlord communications. It also has built-in legal compliance, plus rent protection.