UK start-up closes £7 million funding round

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A London-based PropTech company has closed a Series B funding round at £7 million, led by investors from Finch Capital, Rocket Internet and Global Founders Capital.

The latest round of funding adds to Goodlord’s £7 million Series A funding round which took place last year.

The company, which was founded in 2014, offers cloud-based software to help estate agents, landlords and tenants manage the rental process more efficiently, with features such as digital contract generation and signing, comprehensive referencing and utility and media switching services.

William Reeve, CEO of Goodlord, said the start-up will use the new funding to build new products, grow its customer base and invest in the further development of Goodlord’s proprietary technology.

But it hasn’t always been plain sailing. In January, it was revealed that Goodlord had let go of nearly 40 employees, which included co-founder and former CEO Richard White and the company’s CTO.

William Reeve was appointed as CEO a month later, signalling the start of a new era for the company.

Goodlord’s most recent figures paint a positive picture for the firm, which is now on track to grow its tenancy volumes by over 90 per cent and its revenues by around 80 per cent.

Closing the latest round of funding, Mr 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 .”

If you’re an early stage start-up and would like to look at funding options, please get in touch. We have the experience required to lead entrepreneurs through the investment process, from Seed funding rounds to private investment and more.

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