PropertyLoop enables landlords to find tenants, manage their properties & stay compliant all in one place
- Founding team scaled and exited a leading estate agency chain
- Revenue generating MVP with over 20,000 rental enquiries
- Accepted into PWC Scale Proptech Programme (over 500 applicants)
- $110bn market opportunity in the UK and ~$2trn worldwide
Landlords today have a painful and fragmented experience renting out and managing their properties. They face excessive fees and poor service and must stay on top of 500+ pieces of legislation to stay compliant.
A number of online agents have emerged in recent years but we estimate that 95% of landlords still use High Street agents to handle their lettings. We believe the solution is not to remove agents altogether, but rather leverage technology to help them better serve landlords and give them a fairer deal, whilst removing the unnecessary High Street overheads passed on to customers.
That’s why we founded PropertyLoop. Our platform enables landlords to find tenants, manage properties, and stay compliant all in one place, powered by a network of independent, local rental experts.
Crucially, our unique model enables both our local experts to earn significantly more money and our landlords to save up to 50% in fees than with traditional estate agents, whilst delivering a far superior lettings experience.
Substantial accomplishments to date
• In just under a year, we have released a revenue-generating MVP into the market
• Received over 20,000 rental enquiries to date, with over 300 tenancies executed and over £3.2m of rent currently going through the platform
• Over 2,000 landlords have signed up so far to either register interest or as a platform user and we estimate that they own over 6,000 properties between them
• Over 17,000 messages exchanged on the platform with a response time of under 20 mins between users
• The average time for landlords and renters to agree offers on the platform is now just 2-3hrs, whereas it can take up to 5-7days with a traditional high street letting agent.
• We’ve achieved all this without external investment.
Team & Accomplishments:
• The founding team previously scaled and exited a leading London estate agency chain to one of the largest independent estate agents in the country
• Accepted into the PWC Scale Proptech Programme - 1 of only 9 successfully selected from over 500 prop-tech ventures
We take a 30-50% cut of the transactions carried out by our local rental experts, also referred to as brokers. Generally, brokers earn a fixed percentage fee of the ongoing rent that landlords receive.
Typically, PropertyLoop brokers charge a 5%-8% fee, compared to 10%-17% charged by traditional high street agents. By keeping up to 70% of this fee, our brokers’ earning potential becomes significantly greater when compared to traditional high street agents where they commonly earn 5-10% commission of the agency’s 10%-17% fee on deals executed, alongside a very low base salary.
In addition to this 30-50% cut, our platform gives landlords and renters access to products and services that are needed throughout the lifecycle of a rental journey, provided through carefully selected third-party partners, and seamlessly integrated onto the platform. We earn a 10-30% commission on these transactions.
Going forward, we will also be heavily targeting the ever-growing Build to Rent sector and institutional landlords.
Use of proceeds
With our MVP live and generating revenue, we are now raising further capital to execute our next phase of growth.
The funds raised will be invested into three key areas:
1. Sales & Marketing
Our primary focus will be building our network of local rental experts. Onboarding and supporting our brokers will enable us to boost revenue generation by increasing activity on our platform. We will also be supercharging our marketing efforts to acquire new landlords.
2. R&D - Building out our product
A key objective for us on the back of this raise is to build out our Broker platform to provide our local experts with a host of tools to better service landlords and renters, as well as provide automated workflow processes to increase efficiency, enabling us to scale up.
3. Operational costs
We will invest in the business’ operational infrastructure to enable long-term scalability.
The founders invested in PropertyLoop Ltd by way of a loan of £1,515,003.25, received through Kingdom Global Holdings Ltd (a company wholly owned by the founder’s trust). The loan is an interest-free loan and will remain outstanding and cannot be repaid before investors have an exit or liquidity event.
The Founders have the right to convert this loan into equity shares as part of any future funding rounds providing that by doing so, EIS eligibility is not affected or is no longer required by the business.
None of the funds raised as part of this round will be used to repay this loan.
The company has three share classes, A Ordinary, B Ordinary, and Ordinary. Investors in this round will be receiving A Ordinary shares which are EIS eligible.
- 1X non-participating exit-only liquidation preference.
- EIS eligible
- No liquidation preference
- No liquidation preference.
- These are held by the founding team.
Investors in this round will be investing in PropertyLoop Global Holdings LTD (13779394). This company has a wholly owned subsidiary PropertyLoop Ltd (12250122).
Please note, £961,028 of investment that has been reflected in the campaign has been received by the company between January and July 2022. This investment is on the same terms as Seedrs investors.
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