Homeppl chief says new tech can spot fake banking paperwork and spot multiple fraud attempts by a single criminal across its referencing network.

Homeppl says its software spotted the US individual's criminal attempt to rent the London BTR luxury property for 24 months.

Referencing platform boss Alexander Siedes says the referencing sector needs a major shake-up to serve both groups.

Firm Homeppl says BTR's habit of offering no-deposit and bundled utility bills makes their developments attractive to fraudsters to make money from sub-letting or deliberately getting into rent arrears.

Homeppl fundraising round oversubscribed as investors bet on tech bringing huge changes to tenant referencing in UK and beyond.

HomePPL says its more sophisticated approach to vetting tenants will help agents accept 25% more people.