PropTech Goodlord has raised £27 million in its latest investment round to fund further acquisitions.
The London firm was founded in 2014 with a mission to simplify the complex lettings process for everyone involved – letting agents, landlords and tenants alike.
Its cloud-based platform means the entire process of letting a home – from referencing to contract generation – can be managed through a single interface.
Goodlord doubled its revenues in 2021 and has set its sights on achieving the same growth in 2022. Its software and services have supported more than a million landlords and tenants throughout the UK and its proprietary platform processes over £1 billion in payments annually.
The round was led by Highland Europe and supported by Columbia Lake Partners, Finch Capital, Latitude and Oxx. Laurence Garrett, partner at Highland Europe, will join Goodlord’s board.
Serial entrepreneur William Reeve – co-founder of LOVEFiLM and a founding director of Zoopla – took the helm as CEO in early 2018, leading the company through two previous investment rounds.
“As we continue on our mission to build the best rental experience in the world, bringing Highland Europe and Columbia Lake Partners on board as investors is fantastic news for Goodlord and the rental sector,” he said.
“About one in five people in the UK now live in the private rented sector, supported by millions more private landlords and lettings professionals, making our mission just as important today as it was when Goodlord began.
“Thanks to the backing and expertise of Highland Europe and Columbia Lake Partners, we can accelerate the build out of our product through more acquisitions and, ultimately, support even more tenants, landlords, and letting agents.”
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Goodlord will increase the size of its product and engineering team, including launching its own tech academy to support the career development of entry-level developers through mentoring and work experience.
In 2020, Goodlord acquired referencing platform Vouch, and in 2021, it bought the bill splitting app Acasa. It now employs more than 300 people in the UK.