Goodlord, a rental platform based in London, has raised £2m in seed funding in order to shake up the rental market.
The funding round drew support from Robin and Saul Klein’s LocalGlobe Capital and Global Founders Capital.
Goodlord, which brings together tenants, landlords and letting agents through the cloud, is set to use the newly procured funds to hire more staff and to continue developing its infrastructure.
“Our platform connects all the stakeholders and it does it in a way that is transparent and fair to all sides,” says co-founder and chief executive Richard White.
Founded two years ago by White, a former estate agent, and siblings Philip and Tom Mundy, a software engineer and businessman, Goodlord says its software is already being used by 200 letting agencies across the UK.
“With the help of Goodlord’s service, renting a property becomes a transparent process. Tenants don’t have to leave work early to trudge around flats and fill out paperwork,” added White. “Tenants want to go and see a property and say “Yes I’ll take it” and for the deal to happen right there.”
“Generation Rent is rightly demanding better customer service from letting agents,” said LocalGlobe’s cofounder Robin Klein, concluding: “For too long tenants have felt powerless in a market where transactions were anything but transparent. We believe that Goodlord can transform the way lettings are carried out across the UK and become the backbone of deals in the rental market.”