Residently, the UK startup that is building the global rental platform, has secured £7m in seed investment to help fund its growth in London and New York.
The company stated in a press release that the investment is from leading European VCs including Felix Capital, LocalGlobe and A/O PropTech, as well as existing angel investors. The funding will be used to grow the startup’s engineering and product teams, support building the rental portfolio in London and New York, and add extra services to Residently’s Living platform.
Founder and CEO Tom Allason: “We are building the global rental brand by using tech to offer flexibility and smart services to renters. We put them first because by improving the experience for renters, we positively disrupt the economic model for property investors and owners – enabling them to maximise their yield with minimum hassle.”
Residently is committed to enhancing the living experience. Renters can search for properties, arrange viewings, take virtual tours, fill in forms, pay deposits and submit reference checks all through their phone.
The company guarantees broadband is set up before arrival, offers flexible move in dates, and even sets up utilities. Residently also offers services that today’s renters expect, such as moving, storage, furniture rental, cleaning and digital locks, all of which they can manage via their app. For landlords, Residently offers a property management service that takes care of all viewings, paperwork, property maintenance and renewals without any hidden fees.
Antoine Nussenbaum, Partner at Felix Capital said: “There’s a gap in the market for a property agent that truly cares about renters and landlords. Tom and his team have both the tech, the experience and the passion to disrupt the industry in ways that are long overdue and we’re excited to be working with Residently to create a world leading rental brand and help expand this unique service to even more cities across the globe.”
Remus Brett, Partner at LocalGlobe said: “We have a history of backing ambitious founders and companies that offer truly disruptive, exciting tech and we’re proud to welcome Tom and Residently to the portfolio. It’s time the industry had a startup that understands what renters and landlords need and we’re delighted to be working with Tom to help fund his global expansion and add to the fantastic team.”