Propoly secures £2m in seed funding from Foxtons, Countrywide, Seedcamp, and Pi-Labs
The seed round was led by Foxtons, Countrywide, Seedcamp, and Pi-Labs to support its lettings platform.
Propoly provides an integrated lettings platform designed to streamline administrative tasks and improve transparency for letting agencies. The system handles processes ranging from deposit registration to utility switching.
Propoly has secured £2m in seed funding to support its integrated lettings platform. The round was led by Foxtons, Countrywide, Seedcamp, and Pi-Labs.
Founded in 2014, the company aims to reduce administrative burdens for letting agents through its digital platform. The new capital arrives as agents increasingly turn to digital administration amid social distancing measures.
The investment will assist the startup in meeting current demands within the proptech sector.
From the founder
"We are very pleased to have launched our unique product to market after three years of build, with the help and input of our investors including Countrywide Plc and Foxtons Plc. Propoly empowers letting agencies to be able to focus on the key aspects that generate business whilst allowing the Propoly system to take care of the administrative burden, the upselling of revenue generating products and any compliance issues that arise."
Edward Gazelle
CEO and co-founder at Propoly
Investor perspective
"We’re excited to see Propoly launching its best-in-class lettings solution in a box, following extensive beta testing and feedback from agency customers. We believe that Propoly offers an affordable, subscription-based product that can help smaller and medium sized letting agents, who don’t have the scale to develop their own technology, still adapt their business models under these challenging market conditions and help ensure they maintain safe workplaces."
Patrick Franco
Chief Operating Officer, Foxtons
