GetRentr, a PropTech startup, has raised more than £500,000 in Seed funding.
The geo-spatial property compliance platform raised from a series of strategic investors including Life Ventures, EPIC Private Equity LLP and undisclosed individuals.
Co- founded by Orla Shields, Alex Schembri and Richard Lainchbury, GetRentr uses AI to track UK property licensing regulations and consultations in ‘real-time’.
The startup’s technology also provides an automated service to allow agents and property managers to ensure their portfolios are compliant.
GetRentr says it is already working with various letting agents and has truck partnerships with some key industry players, including the National Landlords’ Association.
Commenting on the successful funding round, CEO Orla Shields said:“At GetRentr our vision is to raise the standards of rented accommodation through the innovative use of data and technology, whilst also offering letting agents and landlords significant savings and revenue opportunities by automating complex, error-prone compliance processes. Our pioneering data and technology platform delivers transparency, measurable impact and strong stakeholder returns – things which will set us apart in terms of our ability to recruit the best talent, scale the business globally and enjoy sustainable success.”
“This investment comes from an incredible group of investors, who add significant value well beyond their funds, bringing expertise that will help us accelerate both our market reach and our development roadmap. We are excited to work with these investors, and this additional funding will allow us to bring more features to more markets. This is just the tip of the iceberg in terms of our long term vision and expansion plans.”
The dos and don’ts of crowdfunding
Jon Wreth, CEO of LiFE Ventures explained why he backed the team: “When we first came across them we had no idea anyone was doing something like this and we were really impressed with what they had developed.
“We approached Orla who came over to see our office and saw how we do things and met the other tech startups we have invested in. We’re having major headaches with licensing at the moment and GetRentr can help us solve them and offer a better service to our landlords,” Wreth concluded.
Check out our UK tech investment tracker for the latest industry deals.