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London proptech Goodlord picks £27M funding for its rental platform

Goodlord, a proptech company from London, on a mission to provide the best renting experience in the world, has raised £27 million in funding.

Stellar list of investors

The investment round was led by Highland Europe (invested in ME+EM, Red Sift, Signal AI and others). It is supported by Finch Capital, Latitude, and Oxx.

Columbia Lake Partners has also committed £12 million of growth capital to Goodlord, with the round led by Investment Director Daniel Bull. Columbia Lake Partners has backed other high growth technology companies such as Mews, Factorial, Dixa, and Contentsquare.

How will Goodlord use funds?

Goodlord plans to use the funds to grow its portfolio of products, services, and integrations through strategic acquisitions to provide more value to the UK’s growing private rental sector of more than 10 million households.

Also, the proptech company will increase the size of its product and engineering team. Goodlord now employs more than 300 people in the UK and, as part of this investment, the option pool will be expanded. It will launch its own tech academy to support the career development of entry-level developers through mentoring and work experience.

Besides the investment, Laurence Garrett, Partner at Highland Europe, will join Goodlord’s board to help the company capitalise on its rapid growth in the last year and continue improving the lettings sector for agents, landlords and tenants.

William Reeve, CEO at Goodlord, commented, “As we continue on our mission to build the best rental experience in the world, bringing Highland Europe and Columbia Lake Partners on board as investors is fantastic news for Goodlord and the rental sector. Thanks to the backing and expertise of Highland Europe and Columbia Lake Partners, we can accelerate the build out of our product through more acquisitions and, ultimately, support even more tenants, landlords, and letting agents.”

Laurence Garrett, Partner at Highland Europe, commented, “I’m looking forward to working closely with William and joining this highly experienced board to help guide the Goodlord team as it expands its reach throughout the UK, both through organic growth and strategic acquisitions.”

Daniel Bull, Investment Director at CLP, commented, “Since we first began speaking to the team in 2020 we could see that Goodlord had a clear vision for improving the way agents, landlords, and tenants interact. Since that time they’ve executed on that vision, and we’re excited to be a part of their continued growth story going forward.”

Transforms the way people rent

Founded in 2014 by Richard White and Tom Mundy, Goodlord transforms the way people rent.

Renting a property was once a complex, stressful transaction mired in paperwork and obscure fees for all parties. Goodlord’s software has completely transformed the experience, by simplifying and streamlining each transaction and reducing the time taken to agree a rental to minutes, rather than weeks.

With the private rental market projected to continue to grow, Goodlord’s software has the potential to improve the lives of millions of people.

Simplifies renting process

Goodlord brings together the core elements of the renting process in one integrated online platform. It significantly improves the renting process for agents, landlords and tenants while integrating market-leading products and services at the optimal time for improved conversion rates and profits

The proptech startup has grown rapidly, with over 2x revenues in 2021. Its software and services have supported over 1 million landlords and tenants throughout the UK and its proprietary platform processes over £1 billion in payments annually.

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