Proptech startup Lavanda raises €1.1 million with the goal to revolutionize the London rental market

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Lavanda, the short-term lettings and homesharing platform has closed its second round of funding, raising additional funding of more than €1.1 million from a number of high-profile investors like Kenny Bruce, founder and CEO of Purplebricks, Sir Terry Leahy, former CEO of Tesco, Harry Hill, founder of Rightmove, Bill Currie, founder of the VC firm William Currie Group and Anthony Nutt, former fund manager at Jupiter Asset Management.

By combining premium hospitality services, multichannel lettings and comprehensive property management into a single technology platform, Lavanda helps residential landlords and property managers maximise performance across their rental portfolios at the touch of a button. The company was founded in 2014.

Lavanda revenues have risen by more than 100% since announcing its previous fundraise in February of this year. The capital will allow the company to grow its B2B offering which provides estate agents and property managers with a simple means of offering short-term rental services at zero incremental cost – driving growth and profitability across their core sales and long-term lettings business.

Kenny Bruce, founder of Purple Bricks said: Lavanda’s innovative proposition to tenants, landlords and estate agents creates genuine value for all constituents. By tapping into the changing way people are living and working, this business has the potential to develop into a major player within the residential market. I’m delighted to be involved at this exciting time for the company.”

Lavanda co-founder Guy Westlake added: “Shorter-term rentals and the sharing economy are shaping the future of the residential property sector. This is a seismic shift, yet the industry is proving slow to adapt. Our platform now provides estate agents and property managers with an immediate means of tapping into this growing market.”

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