New jobs announced as West Midlands online rental platform secures £750,000 funding

West Midlands businessmen and brothers Jonathan and Matthew Daines have announced plans to create 15 new jobs in Warwickshire over the next 18 months.

Their company, online rental platform LettingaProperty.com, has just secured £750,000 in funding from the Midlands-based MEIF Proof of Concept & Early Stage Fund.

LettingaProperty.com will create specialist positions within marketing, IT and development as it drives “customer acquisition and product innovation”. The company is also adapting its onboarding and support teams to handle increased customer demands while preparing for its Series A funding round next year.

Jonathan Daines, Founder and CEO of LettingaProperty.com, said, “Our ambitious vision began in 2008 and is gaining real momentum, supported by this investment and board appointments. We are excited about our future growth potential and the opportunity to disrupt the traditional high street leasing model.

“Our goal is to make renting your property long-term as easy as filling out your vacation rental on Airbnb, and to become the go-to choice when renting a property.”

LettingaProperty.com grew subscribers by 100% in 2021, taking the company’s revenue to over £1million. It is on track to reach £1.6million for the current year, with the company now managing nearly 1,500 rental properties in England, Scotland and Wales.

The company’s new funding from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and is part of the Midlands Engine Investment Fund, and Mercia’s EIS funds, will support the platform’s future growth.

As well as being led by Jonathan and Matthew Daines, who previously served as rental director for a chain of real estate agencies and quality director for Singapore’s Marina Bay Sands hotel respectively, LettingaProperty.com has Kevin Neary as its chairman.

Kevin, who was a co-founder of games retailer GameStop Group, was named chairman last year. As part of the new MEIF funding, Matthew Farrow, former CFO of online real estate agency PurpleBricks, will also join the LettingaProperty.com management team as interim CFO to oversee the future launch. scale of activities.

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