Goodlord Raises £7M

London-based Goodlord , which offers a cloud-based software to help estate agents, landlords and tenants manage the rental process, has raised £7m in a Series B round, bringing the company’s total funding to date to £16.2m. The round was led by new investor Finch Capital, and supported by existing investors, Rocket Internet and Global Founders Capital.

Founded in 2014, Goodlord’s platform allows letting agents to streamline the tenancy application process in one place and includes digital contract generation and signing, comprehensive referencing, and additional products and services such as landlord and tenant insurance, offered by Paymentshield , a UK insurance administrator and distributor.

“Renting is one of the world’s oldest markets, but thanks to Goodlord it is now changing rapidly to make the process efficient and more transparent. With this new funding we will continue to pioneer a better, simpler and more transparent approach – one tailor-made for Generation Rent. We are delighted to have attracted Finch Capital as an investor and have the support from existing investors, Rocket Internet and Global Founders Capital.” – CEO of Goodlord, William Reeve.

“The UK rental market is large with over 5.5 million households and has significant opportunity for the digitalisation of processes and transparency. Goodlord’s technology-led offering, its strong momentum and combined with the experience of William and his team is highly compelling to build a sizeable business in this space.” – Partner at Finch Capital, Radboud Vlaar.

Bottom Line: Insurance is going behind the scenes – get a partner or get creative.