Rental platform Goodlord raises £7.2M from Rocket Internet’s GFC, LocalGlobe, and Ribbit Capital

Mar 15, 2017 · techcrunch.com

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Goodlord, a U.K. startup that has built a platform to handle transactions and the ‘paperwork’ normally associated with renting a home, has raised £7.2 million in Series A funding. Rocket Internet’s GFC led the round, with participation from existing backer LocalGlobe and new investor Ribbit Capital.

That the Silicon Valley-based VC has joined the round is noteworthy. Ribbit is known for its fintech focus, but in some ways Goodlord can be seen as more financial tech than property tech in the sense the company wants to be the ‘transactional architecture’ behind rental transactions. This includes handling (and taking a cut of) payments, as well as offering add-on financial services such as landlord insurance.

"We see huge potential for disruption in the way that rental property in the U.K. is transacted," says Meyer Malka, partner at Ribbit Capital, in a statement. "Goodlord is using technology to build transparency and ease of use for one of the most important moments in a consumer life: choosing a home to live in".

Or, put another way, co-founder and CEO Richard White tells me that Goodlord wants to make it "as easy to rent a home as it is to make online payments with Paypal".

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