PropTech Startup Goodlord Raises £27M to Boost UK Renting Experience
PropTech startup Goodlord has raised £27 million ($35.5 million) in a Series B funding round to elevate the rental experience in the U.K. The funding round was led by Highland Europe with additional backing from Finch Capital, Latitude and Oxx.
Highland Europe partner Laurence Garrett will also join Goodlord’s board to help the company leverage its fast growth and continue improving the renting industry for all involved, TechFundingNews reported Wednesday (March 30).
“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 U.K., both through organic growth and strategic acquisitions,” Garrett said.
Columbia Lake Partners has also committed £12 million ($15.8 million) of growth capital to Goodlord, according to the report, with the round led by Investment Director Daniel Bull.
“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,” Bull said. “Since that time they’ve executed on that vision, and we’re excited to be a part of their continued growth story going forward.”
The fresh infusion of capital will be earmarked for growing Goodlord’s suite of products and services, along with adding integrations through the pursuit of strategic acquisitions. The goal is to offer additional value to the U.K.’s 10 million-plus households in the private rental space.
Goodlord is planning to boost the size of its product and engineering team, adding to the more than 300 people the startup now employs. The company also plans to introduce its own tech academy to support the career development of entry-level developers through mentoring and work experience.
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“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 is fantastic news for Goodlord and the rental sector,” said Goodlord CEO William Reeve.
“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,” Reeve continued.
Headquartered in London, England, Goodlord was co-founded in 2014 by current President Richard White and Chief Operating Officer Tom Mundy. The company offers cloud-based software to help estate agents, landlords and tenants manage the rental process and is striving to transform the way people rent.