With €7.7M funding, this UK startup aims to make online home letting as simple as booking a taxi

With €7.7M funding, this UK startup aims to make online home letting as simple as booking a taxi

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Digitalisation in the real estate industry has already gained momentum. The startups involved in this business use information technology to help businesses, companies, and individuals buy, rent, and sell real estate with ease.

At present, numerous proptech startups use the latest technologies such as Virtual Reality, Augmented Reality, machine learning, and artificial intelligence, and more to make managing and finding properties without much effort.

Secured €7.7 million!

In this regard, Residently, the UK startup that is building the global rental platform, has secured £7 million (€7.7 million) in a seed investment led by European VCs including Felix Capital, LocalGlobe and A/O PropTech, as well as existing angel investors.

The company is planning to utilise the funding 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, said: 

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.

Run home as simple as ordering a taxi!

For the uninitiated, Residently is a 21st-century property company built by property experts and technology entrepreneurs. They are digitising the process of finding, setting up and running a home as simple as ordering a takeaway, a trip away, or a taxi. It was founded by Noemi Staehelin, Sam Phillips, Tom Allason in 2017.

Enhancing the living experience 

With this platform, renters can search for properties, arrange viewings, take virtual tours, fill in forms, pay deposits, and submit reference checks all through their phone. Furthermore, the company guarantees broadband is set up before arrival, offers flexible move-in dates, and even sets up utilities.

9.5 out of 10 on Trustpilot!

Additionally, this proptech company offers services, including moving, storage, furniture rental, cleaning, and digital locks, all of which can be managed through their app. Notably, the company has achieved a Trustpilot score of 9.5 out of 10.

Offers property management service for landlords

On the other hand, for landlords, Residently offers a property management service that takes care of all viewings, paperwork, property maintenance, and renewals without any hidden fees. From September, landlords can use Residently’s full service, including all marketing for zero commission, for six months.

Antoine Nussenbaum, a partner at Felix Capital, said: 

There’s a gap in the market for a property agent that genuinely cares about renters and landlords. Tom and his team have both the tech, the experience, and the passion for disrupting 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 genuinely 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.

Stay tuned to Silicon Canals for more European technology news.

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