Residential fintech company Flatfair has raised $11m in its latest funding round.
Flatfair, a fintech scale-up which allows tenants to instantly rent a home with no deposit, raised the investment with Index Ventures leading the series A funding rounding.
Other investors included: Adevinta, Onefinestay founder Greg Marsh; former Savills chief executive Jeremy Helsby; and TransferWise founder Taavet Hinrikus.
Flatfair has developed a platform where tenants can secure their tenancy with a debit card, in the same way as you would when checking in to a hotel. In exchange, tenants pay a small membership fee.
The scale-up is looking to expand the platform by developing new features.
Franz Doerr, co-founder and chief executive at Flatfair, said: “Like much of Britain’s housing stock, its rental sector is stuck in the Victorian era. Thankfully, cutting edge payment technology can boost transparency, build trust and make instant move-ins a possibility.”
He added: “Now, with institutions like Legal & General and LaSalle funding build-to-rent homes alongside thousands of highly professional private landlords, we’re seeing higher standards of service filter through the entire market.”
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