Mortgage duo secure £250,000 investment for new property platform

A Birmingham company which is developing a new property management platform has secured a £250,000 investment.

Rent Chief’s new online platform aims to help property investors, landlords and lettings agents maximise returns and time by automating routine tasks, such as finding new tenants and reliable tradespeople.

The platform also provides updates on new sector regulations and sources mortgage and insurance products.

Rent Chief has been launched by entrepreneurs Patrick Shuker and Jon Whitmore, the same team behind the TrigoldCrystal mortgage services group which was sold to Avelo in 2012.

The funding from the MEIF Proof of Concept & Early Stage Fund – managed by Mercia and part of the Midlands Engine Investment Fund – and a number of private investors, will allow the firm to bring its product to market, launch a sales and marketing campaign and create five jobs.

As part of the deal Jon Whitmore, the former CEO of TrigoldCrystal, has been appointed as non-executive chairman of the company.

Shuker said: “From our work in the property sector and experience as landlords, we recognised that there was a gap in the market for a platform that could bring together all the different aspects of property investment and management. We are looking forward to the launch of Rent Chief and working with our investors as we continue to develop and enhance the product.”

David Baker, investment associate with Mercia, said: “Patrick and Jon have a strong track record within the financial services and property sectors and Rent Chief has already attracted interest from a number of early adopters. This investment will allow them to complete the software development and put their plans into action.”