Jobs in pipeline as online lettings platform secures funding
Online lettings platform LettingaProperty.com is set to create jobs after securing £750,000 worth of funding.
Founders and brothers Jonathan and Matthew Daines have announced plans to create 15 roles in Warwickshire over the coming 18 months.
LettingaProperty.com will be creating specialist roles within marketing, IT and development as it drives customer acquisition and product innovation. The company is also scaling its support teams to handle increased customer enquiries while building towards its Series A funding round next year.
LettingaProperty.com increased subscribers by 100% in 2021, taking the firm’s revenue to over £1m.
It is on course to reach £1.6m in the current year, with the company now managing nearly 1,500 rental properties across England, Scotland and Wales. The company’s new funding from the MEIF Proof of Concept & Early Stage Fund (which is managed by Mercia and part of the Midlands Engine Investment Fund, and Mercia’s EIS funds), will support the platform’s further growth.
In addition to being headed up by Jonathan and Matthew Daines, who previously served respectively as a lettings director for a high street estate agency chain and the director of quality for Singapore’s Marina Bay Sands hotel, LettingaProperty.com has Kevin Neary as chair.
Neary, who was co-founder of games retailer GameStop Group, was appointed to the role last year.
As part of the new MEIF funding, Matthew Farrow, former finance director of online estate agency PurpleBricks, will also now be joining the LettingaProperty.com leadership team as interim finance director to oversee future business scaling.
Jonathan Daines said: “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.”
Stephen Windsor of Mercia said: “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.”