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£24.3 million MORE funding for proptech lettings platform

London-based company firm Plentific has now received just short of £30 million to develop its tech, which helps landlord complete repairs and maintenance on properties online.

Nigel Lewis

plentific

The flow of investment cash into proptech continues after rental platform and tech firm Plentific revealed that it has landed a second major round of funding worth £24.3 million.

This, together with earlier funding efforts, takes its total funds raised to nearly £30 million. Plentific is based in London and is a tech-based property management platform for landlords that enables them to manage a property’s repairs and maintenance and keep tenants informed about progress.

In 2015 Plentific gained considerable exposure when it partnered with Zoopla to enable the portal to offer its users a ‘find a tradesman’ service.

But Plentific’s key aim, like many other proptech platforms in the property management marketplace, is to either persuade landlords to use its platform to cut costs and free up time, or use it instead of a letting agent.

“It’s a massive market we operate in with very old systems in place,” says co-founder and CEO Cem Savas, pictured, above.

“There are long-standing structural barriers that housing companies have to overcome in order to deliver a good tenant experience.

“By digitising the supply chain we’re creating a larger, more dynamic market of locally-available tradespeople and removing unnecessary manual processes, significantly improving the tenant or leaseholder experience.”

Plentific has secured the funding in a round led by AO Proptech, with support from international investment firm Target Global and existing investors such as Round Hill Ventures.

The company was founded in 2013 by property developer Savas and City banker Emre Kazan.

Read our ultimate guide to proptech.

November 19, 2019

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