Rental proptech firm secures £10m of investment

Lettings platform Goodlord has raised £10m in its latest Series B funding round.

The proptech firm has secured financial backing from Finch Capital and Latitude Ventures, which is a sister fund to European venture capital firm LocalGlobe, known for investments in Zoopla.

This latest round also welcomes Oxx as a new investor.

Goodlord said the money will be invested in its customer-facing teams.

This will include more features to ensure that agents and landlords stay compliant with new regulations such as anti-money laundering directives and the forthcoming Renters’ Reform Bill.

Goodlord also said it would introduce new revenue opportunities for agents.

William Reeve, who was a founding director of Zoopla and is now chief executive of Goodlord, said: “This investment means we can continue to support our customers at increased rates of growth and offer a suite of products that keeps up with market and regulatory demand.

“We’re so pleased to welcome Latitude Ventures and Oxx and to have the continued support of Finch, all bringing with them a wealth of experience when it comes to scaling ambitious companies like Goodlord.”

The fundraise comes after Goodlord secured £7m of Series B funding in October 2018 just 18 months after a Series A funding round attracted £7.2m.

It also marks a turnaround since the start of 2018 when Goodlord made 40 people redundant as part of a restructure of the business.

Proptech firm makes almost 40 redundant but pledges that agents will see no change in levels of service

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