Lettings proptech firm Goodlord has secured £7m of funding from prominent fintech investor Finch Capital.

A Series B funding round was led by Finch Capital – which has also invested in online lender Zopa and digital mortgage broker Trussle – and includes support from existing Goodlord backers Rocket Internet and Global Founders Capital.

Goodlord raised £7.2m in a Series A funding in May 2017. To date, the business has raised £17m.

The new funding will be used to build new products, grow its customer base and invest in the further development of Goodlord’s proprietary technology. The firm aims to streamline the admin process for letting agents, using mobile-friendly technology.

Goodlord has been guided through a period of change and growth this  year by new CEO William Reeve, a technology entrepreneur and angel investor.

Reeve, who co-founded LOVEFiLM together with ZPG founder Alex Chesterman, has been involved with other successful tech businesses including Graze.com, Secret Escapes and Zoopla.

Since Reeve’s arrival in January, the business has also appointed a new CTO, Donovan Frew, and has rolled out a variety of improvements to its technology.

The business says it is on track this year to grow its tenancy volumes by over 90% and its revenues by around 80% from 2017.

Reeve said: “Renting is one of the world’s oldest markets, but thanks to Goodlord it is now changing rapidly to make the process efficient and more transparent.

“With this new funding we will continue to pioneer a better, simpler and more transparent approach – one tailor-made for Generation Rent.

“We are delighted to have attracted Finch Capital as an investor and have the support from existing investors, Rocket Internet and Global Founders Capital.”

Radboud Vlaar, partner of Finch Capital, will also join the Goodlord board.

Vlaar said: “The UK rental market is large with over 5.5m households and has significant opportunity for the digitisation of processes and transparency.

“Goodlord’s technology-led offering, its strong momentum and combined with the experience of William and his team is highly compelling to build a sizeable business in this space.”