Seed8 August 2022

LettingaProperty secures £750k from the MEIF Proof of Concept and Early Stage Fund to create 15 jobs and drive growth

The Warwickshire-based online lettings platform has raised seed follow on funding to expand its team and scale operations ahead of a Series A round.

£750KSeed

LettingaProperty is an online lettings platform that provides digital property management and tenant services for landlords across Great Britain. Founded in 2008 and based in Warwickshire, the firm offers an alternative to traditional high street estate agents.

Warwickshire-based online lettings platform LettingaProperty has secured £750k in seed follow on funding from the MEIF Proof of Concept and Early Stage Fund. The capital will be deployed to expand the team by creating 15 new roles across marketing, IT, and development. The investment supports the firm as it scales operations, drives customer acquisition, and prepares for a subsequent Series A funding round.

The company manages nearly 1,500 rental properties across England, Scotland, and Wales, having posted over £1m in revenue for 2021. Alongside the funding announcement, former PurpleBricks finance director Matthew Farrow is joining the leadership team as interim finance director to oversee business scaling.

From the founder

"Our ambitious vision started back in 2008 and is gathering real momentum, supported by this investment plus key board appointments. We are excited about our future growth potential and the opportunity to disrupt the traditional high street lettings model. We aim to make renting out your property long-term as easy as filling your holiday let on Airbnb, and become the go-to choice when renting out property."

Jonathan Daines

Founder and CEO at LettingaProperty

Investor perspective

"Jonathan has used his experience in property management to digitally enhance each step of the tenancy journey. Lettingaproperty.com is one of the longest-established rental platforms and is unique in that its technology is backed by an experienced lettings team. The investment will enable the company to scale the business faster and cement its position in the market."