Online lettings platform lettingaproperty.com has announced the next phase in its growth strategy, launching a fundraising round with equity crowdfunding company Seedrs. The move follows an initial raise of £750,000 in mid-2022 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.

 

Founded by brothers Jonathan and Matthew Daines in 2008, lettingaproperty.com provides a cost-effective alternative to traditional high street letting agents. The company has grown organically over the years, proving its business model and refining its offering. Today, lettingaproperty.com has over 20,000 registered landlords, more than 1,500 rental properties under management, and collects over £24 million in annual rent across England, Scotland and Wales.

 

Over the last two years, lettingaproperty.com has seen 80% subscriber growth, generating £800,000 in annual recurring revenue, and £1.1 million turnover in 2022. This represents just over 0.1% of the serviceable available market, so the potential is huge. The aim is to service 1.2% of this market – that's 10,500 recurring revenue subscribers, and a strong growth story as lettingaproperty.com journeys through future funding rounds.

 

To support this growth, the company has assembled a strong leadership team, with proven experience of rapidly scaling businesses. This includes Kevin Neary, Founder of GameStop Group, Matthew Farrow, former Financial Director of Purplebricks, and Stephen Windsor, of Mercia Asset Management.

 

The company recently launched a new SaaS rental platform, enabling landlords to simply manage the end-to-end letting process online. This also provides a marketplace for landlords and tenants to securely connect, with features including instant messaging, digital wallets, and OpenBanking.

 

Funds raised in this round will support marketing activity and product development – designed to nurture, retain and grow the subscriber base, boost recurring revenue, and capture greater market share.

 

lettingaproperty.com is on a mission to become the go-to destination for renting. Offering simple rental property management from any device, anywhere, at any time. Potential investors can find out more on the Seedrs campaign page: https://www.seedrs.com/lettingaproperty/ 

 

“With our proven business model, strong leadership team and innovative rental platform, we’re ready to scale at pace. On the back of our Mercia capital raise, we are excited to open this opportunity to the wider investment community, prove our potential to grow, and progress to the next investment round."

 

Jonathan Daines, Founder and CEO, lettingaproperty.com

 

For more information, please visit www.lettingaproperty.com or call 0333 577 8888.

 

About lettingaproperty.com

 

One of the UK’s longest established online lettings companies, lettingaproperty.com was founded in 2008 by Jonathan Daines, to address the shortcomings of traditional lettings – providing greater control and transparency for landlords and tenants.

 

For nearly 15 years, lettingaproperty.com has offered landlords a smarter alternative to traditional high street letting agents. Landlords get their rent on time, whether tenants pay or not, plus legal cover and expert lettings support – all for a low, fixed monthly fee.

 

With passion and integrity, the lettingaproperty.com team have helped thousands of landlords to better understand and manage the lettings process online, while developing a deep understanding of landlord and tenant needs – providing the foundation to develop an innovative SaaS rental platform and become a true Proptech leader.

 

 

About Republic & Seedrs

Republic is a financial technology firm that allows everyone to invest in private markets. Republic operates several distinct business lines including a retail investment platform, a private capital division, and a blockchain advisory practice. Seedrs, which just celebrated its 10th year of operations, is Europe’s leading online investment platform, enabling investment in startups, VC funds, secondary share sales as well as operating one of the most active secondary markets in the world. Republic’s global platform has supported thousands of companies and has over 2.5M users across 150 countries. Republic is backed by dozens of leading investment firms and financial institutions and its affiliated entities have co-invested with the best names in venture and private equity. Founded in 2016, Republic is headquartered in New York City with offices worldwide, including Seedrs headquarters in London and Dublin. For additional information, visit republic.com or seedrs.com.