Rental platform and landlord and property management company Plentific has raised £24.3 million ($31.5 million U.S.) in a second round of fundraising, which will be used to invest in technology for its business.
Plentific is a property management platform that helps landlords manage and complete repairs and maintenance online, as well as inform tenants about project updates.
The company says that landlords who join its platform will lower costs and decrease time spent on administration. It can also be used as an alternative to a letting agent.
“It’s a massive market we operate in with very old systems in place,” said co-founder and CEO Cem Savas. “There are long-standing structural barriers that housing companies have to overcome in order to deliver a good tenant experience.”
“By digitizing the supply chain we’re creating a larger, more dynamic market of locally-available tradespeople and removing unnecessary manual processes, significantly improving the tenant or leaseholder experience,” he added.
The company was launched in 2013 by property developer Savas and banker Emre Kazan.