Property software provider Goodlord has raised £27 million to fund the expansion of its products and services for agents, landlords and tenants.
The online platform – which automates the tenancy process, manages references and offers deposit replacement insurance – also plans to make more strategic acquisitions. It bought reference provider Vouch and tenant-facing bill-splitting app acasa in 2021 after winning £10m of capital in 2020. This round of funding was led by Highland Europe and supported by Columbia Lake Partners alongside existing investors Finch Capital, Latitude, and Oxx.
The new money will be used to increase the size of the firm’s product and engineering teams, so it can continue to grow its products and services built in-house, and expand its offering and value to letting agents through more integrations. Goodlord also plans to use the cash to launch its own tech academy, training entry-level software developers.
Goodlord has already supported more than one million landlords and tenants via its software and services, and currently processes more than £1 billion in payments each year on behalf of several thousand letting agents.
Goodlord CEO William Reeve (pictured right) says it’s on a mission to build the best rental experience in the world. He adds: “Thanks to the backing and expertise of Highland Europe and Columbia Lake Partners, we can now increase the pace of our product development, new integrations, and acquisitions, and double down on our vision to facilitate an end-to-end lettings solution, which includes everything from property management, inventories, and move-in services, to insurance solutions and CRMs.”