UK-Based Startup Residently Raises £4M in Funding

Residently has raised £4M in funding to boost its home rental marketplace.

The funding round was led by Love Ventures, with support from Felix Capital, LocalGlobe, A/O PropTech and Seedrs. Residently will use its funds to streamline operations for property owners and renters, and reduce costs.

Residently's renting app lets users arrange references, viewings, conduct tours, organise refurbishments and renew leases.

Its services marketplace offers Wifi, utilities, furniture rental, cleaning and home insurance.

Tom Allason, founder and CEO at Residently, said:

"In a world where we can secure a taxi, takeaway or trip away in seconds it is nuts that we tolerate friction and uncertainty where we spend most of our time and money. We’re here to transform the experience and economics of renting. We started by digitising the rental journey, next up is solving the greatest problem with renting. Letting renters secure their next home more than a month in advance will eliminate unnecessary stress and double rent for them and costly voids for landlords."

Residently was founded by Allason in 2017. The Company previously raised £7M in seed funding in 2019 from similar investors (Felix Capital, LocalGlobe and A/O PropTech).