Online letting agent OpenRent has raised £4.4m in funding from Rocket Internet’s VC arm Global Founders Capital.
The news comes after the London-based firm raised £1m in equity from Northern & Shell Ventures in August 2014.
Founded in 2012, the firm says it will use the funding to expand its team and to further product development.
OpenRent co-founder, Adam Hyslop, commented on the news: “Our success to date has been based on the twofold approach of saving landlords and tenants thousands of pounds in fees, while also delivering a significantly better service enabled by technology.
“This funding will allow us to grow our team in London – we want to expand our team of top developers to build our big ideas, and this gives us the extra resources and confidence to do so,” the co-founder continued.
The PropTech company seeks to make renting less stressful, by allowing landlords to find tenants and helping the latter find places to rent.
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Daniel Jones, managing partner at Global Founders Capital, spoke about the investment, noting how the deal represented the next phase of growth for the London firm.