London-based online letting agent OpenRent has raised £4.4m in funding from Rocket Internet’s VC arm Global Founders Capital.
The startup launched in 2012 with a desire to bypass the frustration of the rental process that OpenRent’s founders experienced as both tenants and landlords.
The news comes after the proptech firm raised £1m in equity from Northern & Shell Ventures in August 2014.
Funding accumulated from this latest round will allow OpenRent to expand its team and further its business development.
OpenRent co-founder, Adam Hyslop, commented on start-up’s winning strategy. “Our success to date has been based on the twofold approach of saving landlords and tenants thousands of pounds in fees, while also delivering a significantly better service enabled by technology,” Hyslop said.
“This funding will allow us to grow our team in London – we want to expand our team of top developers to build our big ideas, and this gives us the extra resources and confidence to do so,” he continued.
