Digital house renting platform Residently raises £7 million in seed funding — BlockInspect

UK based property technology startup, Residently has raised £7 million in seed funding. The round was led by Felix Capital, LocalGlobe, and A/O PropTech, with participation from other existing angel investors. Residently is developing a rental platform, to improve people’s property renting experience.

With the fresh funding round, Residently is planning to expand its engineering and product teams. It will also keep expanding its rental portfolio in London and New York. Further it will add services like cleaning and ironing, storage, contents insurance, and furniture rental to its ‘Living platform’.

CEO Tom Allason was quoted saying, “Residently is building the world’s rental brand with a platform for rental properties designed around the needs of the renter.” He added, “Residents enjoy a seamless digital rental experience, can choose their move in date, a furniture package, cleaning service and move seamlessly from property to property within the network. Property owners benefit from reduced void periods and lower fees than traditional agents”.

Residently is basically looking to digitize renting experience of people. On its platform, users will be able to search for properties, arrange viewings, take virtual tours, fill in forms and submit references, and pay deposits via a mobile app.

Allason added, “We compete for supply with estate agents (e.g. Foxtons, Savills, Countrywide) as well as to a lesser extent serviced apartment providers who are taking residential properties off market. We look at the renter as our customer rather and seek to develop that relationship over multiple tenancies and properties which we can monetize with services”.

Originally published at https://www.blockinspect.com on August 29, 2019.