The founders of Purplebricks and Rightmove will help a London-based property management company become profitable after joining a group of angel investors pouring £1 million into the business.
Lavanda allows landlords and homeowners to let their properties on websites such as Airbnb, but without having to deal with cleaning or running the property.
Kenny Bruce, the boss of hybrid estate agent Purplebricks, and Harry Hill, the founder of property site Rightmove, are among the angel investors contributing cash to the London-based company.
Hill joined as Lavanda’s chairman this year, with other investors including ex-Tesco boss Sir Terry Leahy.
Lavanda’s founder, Guy Westlake, said the investments will help the company become profitable.
“It’s about establishing the business as a viable, long-term disruptor in the market. We’re now well equipped to do that,” he said.
