PropTech partner for build-to-rent (BTR) operators, leasing agents and developers Property Sense has raised £2m to fuel its growth plans and expand its technology nationwide.
The Stockport-based company, which focuses on accelerating lease-up in the BTR sector, initially closed a £1m Series A crowdfunding round in July after announcing its launch in April.
Due to oversubscription and early-stage VC interest, the raise has now been extended by a further £1m.
The fresh funding will be used to enhance the platform, introduce CRM and PMS integrations, as well as accelerate rollout across BTR schemes nationwide.
The firm also plans to expand into new living segments, including co-living, single family homes and purpose-built student accommodation.
Founded to streamline lettings through smarter, scalable technology, Property Sense has developed proprietary software that digitises lease-up operations via a self-serve platform.
The system aims to provide seamless communication between residents, operators and agents, helping developers and landlords fill schemes faster during construction and launch phases.
“Securing £2m in growth capital gives us the momentum to truly scale – not only enhancing our technology, but rolling it out on a national level,” said Property Sense CEO, Mike Haywood.
“It’s incredible to see how far the business has come in such a short space of time.
“We took a bold step early on by pivoting into a highly specialist PropTech space, but we knew our technology had the potential to completely revolutionise the way lettings work in the UK, particularly during the critical lease-up and construction phases of developments.
“To have both early-stage VCTs and high-net-worth individuals, as well as a crowd of public investors backing that vision, is a huge validation of everything we’ve built so far, as well as where we’re heading.”
The raise follows a year of strong growth for Property Sense, which has expanded beyond the North West and Yorkshire into the Midlands, South East, London, Wales and Scotland.