Proptech
News focusing on new technological solutions which create efficiencies and cost-savings for estate and letting agents and the wider residential property industry.
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Could it finally be working? Nested forecast to triple turnover this year
Estate agency cum bridging loan company Nested is set to triple its turnover to £10 million this year, but has still only sold 200 homes so far.
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UK based Airbnb management firm Hostmaker tries long-term lettings as it seeks £25m funding
A London-based Airbnb property management company called Hostmaker says it is considering a major move into long-term lettings.
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HM Treasury backs three rental fintech firms with £1.4 million
HM Treasury has today revealed the three fintech services it’s decided to back with £1.4 million to develop their platforms and ultimately help more tenants build up their credit scores and get on to the property ladder. The cash is the final phase of an initiative called the Rent Recognition Challenge, which was in part a political reaction to a e-petition that gathered over 140,000 signatures and called for rental payments to be included in tenants’ credit histories. This e-petition was debated in parliament and soon afterwards HM Treasury announced its ‘challenge’ which has spent a total of £2 million helping fund the growth of six fintech firms. Three of these including the UK’s largest rent recognition platform CreditLadder plus Bud and Rental Step, are the finalists in the challenge. CreditLadder is believed to have received the largest cheque, for £500,000. Scrutiny Today’s announcement follows scrutiny of each firm’s presentations by a panel of leading figures from the Fintech sector including Al Lukies of Motive Partners; Charlotte Crosswell, CEO of Innovate Finance and Paul Smee, Former Director of Mortgages, UK Finance. “Our service was the first in the UK to enable tenants to have their rent recognised by a leading…
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Letting agent that says it’s also a social club for tenants lands £3.5m
Lyvly, a rental firm that claims to be both a letting agent and a social club for tenants has landed a £3.5 million investment.
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Residently set to ‘shake up the sector’
Residently, a new UK rent-torent business, plans to shake up the online lettings sector...
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Deposit alternative Reposit wins £500k more funding from investors
Tenancy deposit alternative Reposit has received an additional £500,000 from investors, taking its total raised since launch to nearly £1 million. The extra cash will be used to scale the team and business across the UK’s rental markets including new products, say founders (LtoR above) Jude Greer and Brendan Short. Its phone app and online based service enables tenants to take out insurance at a cost of one week’s rent to cover their landlord if they damage the property or fail to have it cleaned before they move out. Each ‘Reposit’ is tied to the tenancy and property and is not portable, so tenants moving home must take out a new policy, although those with histories of good behaviour pay lower premiums. Still classing itself as a ‘start-up’ despite having been in business for three years, Reposit says the investors include Andrew Weisz of Weisz Investments and Michael and Simon Blakey of Avonmore Developments, which also backs removal firm comparison site Buzzmove. Deposit alternative Reposit says it has also signed a deal with Lloyds of London underwriter Canopius through the Financial Conduct Authority’s Innovation Hub. It brings together players within the insurance industry to introduce new products and services to…
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Shieldpay set to transform moving day
A new digital mortgage processing scheme launched by conveyancing firm My Home Move and the escrow account specialist Shieldpay, promises to ‘transform moving day’...
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Government launches latest bid to fund proptech start-ups
The government's Geovation programme is offering proptech startups £20,000 and free advice on how to grow their businesses.
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New Director at the UK Proptech Association
Managing Director of Search Acumen, Andrew Lloyd, has been appointed to the Board of the UK Proptech Association (UKPA)...
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Stop using proptech to solve problems that don’t exist and copy Amazon, public tell agents
Survey of house sellers and buyers reveals they'd prefer agents offer the same tech as leading transport and retail online brands to make moving easier.
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