Goodlord has raised £10m in a Series B funding round. The platform has seen a year of rapid growth, with new products and platform updates to help agents and landlords stay compliant with the Tenant Fee Ban. It has expanded its service to cover corporate lets, brought in extended insurance provisions and virtual banking technology for customers, and made improvements to Goodlord Switch.
Now Goodlord is investing in software development and products for letting agents – more features to ensure compliance with anti-money laundering directives and the forthcoming Renters’ Reform Bill – plus some new revenue opportunities for agents.
Goodlord has raised £10m from Finch Capital and Latitude Ventures, the Series B+ sister fund to European VC firm LocalGlobe, an investor in Zoopla. This latest round also welcomes Oxx.
Goodlord CEO, William Reeve, said, “We’re delighted to start 2020 by welcoming these esteemed investors. We’re so pleased to welcome Latitude Ventures and Oxx and to have the continued support of Finch, all with a wealth of experience when it comes to scaling ambitious companies like Goodlord.”
Julian Rowe from Latitude Ventures, who is joining the Goodlord board, said, “By creating software that increases the professionalism of letting agents and reduces the stress of securing a home to rent, Goodlord is supplying an essential service to meet a key need. With more people predicted to be renting than owning by 2039, we’re delighted to back Goodlord on its mission to create the best rental experience in the world.”
Bob Thomas, Investment Manager at Oxx, added, “Goodlord is a great example of the power of software: to replace complexity with clarity and transparency. By connecting counterparties across the property rental transaction, Goodlord solves a significant problem for agents, landlords and tenants.
“As rental becomes an increasing share of the UK housing mix, the importance of improving the rental transaction for agents, tenants and landlords is enormous. Goodlord is leading this market forward, and we are delighted to back their world-class team as they develop one of the UK’s most significant technology businesses.”