Online lettings firm hits £850,000 crowdfunding target has hit its investment target, which includes capital raise from Mercia Asset Management.


Online lettings platform has already achieved over 100% of its £850,000 funding target after the launch of its Seedrs public crowdfunding round last month.

The target – which includes an initial raise of £750,000 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 – has now been uncapped, as the Seedrs campaign approaches its final week.


Jonathan Daines, Founder and Chief Executive of, says: “We are delighted with the appetite that has been shown for investment in as a result of our public crowdfunding campaign.

“Given the strong demand from investors, our board has unanimously agreed to extend our initial funding target.”

Brothers Jonathan and Matthew Daines (main picture) launched in 2008 and it now manages more than 1,500 rental properties across England, Scotland and Wales and has seen 80% subscriber growth over the last two years. This resulted in £1.1 million revenue in 2022, £800,000 of which was recurring revenue from its fixed-fee subscriptions.


Detailed budget plans are in place, with a focus on driving marketing activity to further boost recurring revenue and capture greater market share. Funds raised will also fuel the firm’s technology roadmap, while supporting the recruitment of specialist roles across the organisation.

Daines adds: “In the UK, one in five homes are rented. Traditionally, around 95% of these are let through high street agents, who can charge more than 15% of rental income in fees alone.

“There is growing demand, particularly during these tough economic times, for a lettings service that saves landlords money while providing greater visibility, control and financial protection. We are excited to be in a position to meet this growing demand.”

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