London-based rental company Goodlord raised GBP 27 million in its latest investment round on March 30, 2022. The funding led by Highland Europe also saw participation from Columbia Lake Partners, Finch Capital, Latitude, and B2B SaaS focused venture capital firm, Oxx.
Laurence Garrett, Partner at Highland Europe, will join Goodlord’s team. He will help the company capitalise on its rapid growth and continue improving the lettings sector for agents, landlords and tenants.
Purpose of Funding for Goodlord
Goodlord will use the investment to accelerate its ambitious growth plans. Besides, the firm seeks to include potential acquisitions in the UK and beyond.
Proptech company Goodlord will also explore ways to expand its offerings to its clients by growing its portfolio of products, services, and integrations.
With the latest funding, the firm will also be increasing the size of its product and engineering team. It will launch its tech academy to support the career development of entry-level developers through mentoring and work experience.
Previously, Goodlord acquired Vouch, a referencing platform, in 2020 and bill splitting app Acasa last year.
What the founder has to say
William Reeve, CEO at Goodlord, said, “As we continue on our mission to build the best rental experience in the world, bringing Highland Europe and Columbia Lake Partners on board as investors are fantastic news for Goodlord and the rental sector. About one in five people in the UK now live in the private rented sector, supported by millions more private landlords and lettings professionals, making our mission just as important today as it was when Goodlord began.”
“Thanks to the backing and expertise of Highland Europe and Columbia Lake Partners, we can accelerate the build-out of our product through more acquisitions and, ultimately, support even more tenants, landlords, and letting agents,” he further added.
What the investor has to say
“Renting a property was once a complex, stressful transaction mired in paperwork and obscure fees for all parties. Goodlord’s software has completely transformed the experience, simplifying and streamlining each transaction and reducing the time taken to agree with a rental to minutes rather than weeks. With the private rental market projected to continue to grow, Goodlord’s software has the potential to improve the lives of millions of people,” said Laurence Garrett, Partner at Highland Europe.
In addition, he said, “I’m looking forward to working closely with William and joining this highly experienced board to help guide the Goodlord team as it expands its reach throughout the UK, both through organic growth and strategic acquisitions.”
Moreover, Daniel Bull, Investment Director at CLP, commented, “Since we first began speaking to the team in 2020, we could see that Goodlord had a clear vision for improving the way agents, landlords, and tenants interact. Since that time, they’ve executed on that vision, and we’re excited to be a part of their continued growth story going forward.”
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