Online letting agents Howsy raises £5 million to set up Midlands hub
Howsy - formerly NoAgent - says it wants to make renting a property as easy as booking a hotel room and is using the new cash to expand its team and footprint.
Online property management platform and letting agent Howsy formerly known as No Agent has raised a further £5 million from investors, it has been announced.
The company, which has been going since July 2016 and now claims to have 60,000 landlords and tenants using its service, has raised the cash from both existing investors and also Mayfair-based Skybound Capital, which is a relative newcomer to the proptech scene.
Based in the London digital ‘village’ of Shoreditch, Howsy says the money is primarily being used to set up a second operation in Coventry, expand its London team and makes several high-profile senior hires.
These include Mark Hodson, who used to work for PayPal and also retail website NotOnTheHighStreet.com.
Acquisitions
Howsy has also revealed that it intends to make several ‘acquisitions’ but wouldn’t confirm to The Negotiator whether these would be of rival online lettings firms or traditional ones.
“We’re delighted to close on our largest funding round to date and this really cements our current position as one of the leading Proptech companies in the UK,” says founder and CEO Callum Brannan (left).
“We’ve already started to turn this around on a national scale and this latest raise, along with a few strategic acquisitions, should not only help us in our mission, but it will enable us to scale fast as well as look at opportunities outside of the UK.”
Howsy offers a similar service to a traditional high street agent but through a centralised staffed and digital online service for landlords. This includes a free tenant-find service and then packages starting at £35 a month rising to £115 a month for full management.
Read more about Howsy.
