Proptech startup closes seed funding round with £7M

UK-based proptech startup looking to streamline the renting process, Residently, has recently ended a seed funding round with £7 million that it plans to use to grow its digital team and property portfolio.

The London company, founded in 2017 by transatlantic trio Noemi Staehelin, Sam Phillips and Tom Allason, aims to “digitize” the rental experience by covering all stages via an app, from viewing and paying monthly rents, to Internet and other overheads.

The cash injection, which comes from LocalGlobe, Felix Capital and A/O PropTech, and a number of existing angel investors, will help Residently scale its engineering team and offer a suite of new user features including cleaning and storage.

Residently currently has offices in London, New York and Manchester, and owns properties in the former two. Co-Founder and CEO Allason says the funding will give a chance to increase that portfolio—and continue disrupting rental markets whose value soars in the U.K. and U.S.

“We are building the global rental brand by using tech to offer flexibility and smart services to renters,” wrote Allason. “We put them first because by improving the experience for renters, we positively disrupt the economic model for property investors and owners – enabling them to maximize their yield with minimum hassle.”

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