PropTech startup Goodlord has raised £27m ($35.5m) in a Series B funding round to improve the rental experience in the UK. The funding round was led by Highland Europe with additional support from Finch Capital, Latitude and Oxx.
Highland Europe partner Laurence Garrett will also join Goodlord’s board of directors to help the company capitalize on its rapid growth and continue to improve the rental industry for everyone involved, TechFundingNews reported on Wednesday. March 30.
“I look forward to working closely with William and joining this highly experienced Board of Directors to help guide the Goodlord team as it expands its reach across the UK, both through growth organic and strategic acquisitions,” Garrett said.
Columbia Lake Partners has also committed £12 million ($15.8 million) of growth capital to Goodlord, according to the report, with the round led by Chief Investment Officer Daniel Bull.
“Since we started talking to the team in 2020, we could see that Goodlord had a clear vision to improve the way agents, landlords and renters interact,” said Bull. “Since then, they have implemented this vision, and we are excited to be part of their continued growth story going forward.”
The new capital injection will be allocated to growing Goodlord’s product and service line, as well as adding integrations through continued strategic acquisitions. The aim is to provide added value to the over 10 million UK households in private rental space.
Goodlord plans to increase the size of its product and engineering team, adding to the more than 300 people the startup currently employs. The company also plans to introduce its own technology academy to support the career development of entry-level developers through mentorship and work experience.
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“As we continue our mission to create the best rental experience in the world, the inclusion of Highland Europe and Columbia Lake Partners as investors is great news for Goodlord and the rental industry,” said William Reeve, CEO of Goodlord.
“With the support and expertise of Highland Europe and Columbia Lake Partners, we can accelerate the build of our product through more acquisitions and ultimately support even more tenants, landlords and rental agents,” Reeve continued.
Based in London, England, Goodlord was co-founded in 2014 by current Chairman Richard White and Chief Operating Officer Tom Mundy. The company offers cloud-based software to help realtors, landlords and tenants manage the rental process and is working to transform the way people rent.