Least, a London-based digital leasing platform, announced that it has secured a £1.5M in a Seed funding round led by Love Ventures. Other investors, including Concrete Ventures and a group of angel investors in the real estate, legal and financial sectors, also participated.
The investment will enable Least to continue the deployment of the product across assets of any sector, size, or complexity. The funds will also fuel the growth of the team, appointing a new CTO, David Cummin.
Leon Ballard, Co-Founder of Least, comments, “Having developed a unique market-leading solution for the commercial property leasing process, we felt that the size of the opportunity to expand into new sectors and geographies warranted an influx of capital. In Love Ventures, Concrete Ventures, and multiple industry-leading angels, we have got passionate, smart, and supportive partners who we are thrilled to welcome aboard for the next phase of our journey.”
Simplify leasing process
Former leasing agent Leon Ballard and lawyer Nick Kirby founded Least to simplify the leasing process, creating efficiencies for building owners and a new user experience for occupiers.
The digital platform speeds up the leasing process by bringing landlords, tenants, and agents together to prepare and engage in negotiations. From digitising heads of terms, automation of the lease, and applying electronic signatures, Least targets pain points in the industry — lack of time and unnecessary costs.
The product slashes the traditional timeline associated with the negotiation and closing process, reducing void costs, losing fewer deals, and generating revenue for both building owner and agent much sooner.
The company has seen traction with some of London’s most innovative landlords, including GPE, Shaftesbury PLC, Brunswick Property Partners, and Grosvenor.
Love Ventures has a wealth of experience investing in early-stage Fintech, Proptech, and Consumertech companies and predominantly consists of founders and exited entrepreneurs. The company is carbon neutral and actively encourages its portfolio companies to work towards the same objective.
Adrian Love, General Partner at Love Ventures, comments, “Our investment in Least is based on a mutual understanding that the real estate industry has considerable scope for innovation and in particular, time and cost efficiencies created by the use of digital platforms. Love Ventures is excited about Least, what they are offering to clients and the potential for adoption across multiple sectors and geographies, and we look forward to continuing to provide support in the future.”
Taylor Wescoatt, General Partner at Concrete Ventures, comments, “At Concrete Ventures our ambition is to seek out the proptech companies providing innovation to leading global real estate partners in areas that are ripe for disruption. It is clear that Least is providing a digital solution in a space where for too long the time-consuming nature of the traditional process only served to increase costs and frustration. We are looking forward to supporting Least in further rolling out and developing the product to fit building owners across the real estate industry.”