flatfair news

flatfair raises $11m in round led by Index Ventures to expand its deposit-free renting platform

Cartoon investment announcement for flatfair

It’s official, we can finally lift the lid on our greatest milestones to date! It’s been a historical few months for flatfair, we’ve partnered with CBRE, Beales, launched our new deposit registration offering and our CEO Franz has been named as the entreprenuer of the moment within the rental sector (to name a few achievements), and now we’ve secured a mouth watering investment from Index Ventures, one of the worlds biggest venture capital firms with a juicy portfolio featuring the likes of Facebook, Deliveroo, ASOS, Revolut and all of your favourites (now including us!).

So what does this mean?
We’re scaling far and wide to bring deposit-free renting to everyone! We’ve already saved tenants over £4,000,000 in deposit fees and now we’re ramping up to lead the way with the renting revolution that’s taking the industry by storm. Not only is our mission coming to life but we’re also getting ourselves in gear for the biggest recruitment drive with our tight-knit team of 25 growing to an estimated 100 ‘flatfairians’ by the end of the year! That’s a 300% growth in the space of 4 months (we’re also great at maths too).

What’s in the cards for flatfair?
Deposit-free renting only touches the surface of what we do, we also offer instant referencing which enables managing agents and landlords to reference tenants in minutes which in turn can result in same day move ins. Plus, we’re all about choice so our technology allows traditional deposits to be registered on our portal creating a one-stop-shop for all of our stakeholders across the board, reducing admin and increasing efficiency. As you can see our product is constantly evolving and changing, as are our goals. With our recent investment we’re aiming for infinity and beyond as our goalpost rises higher and higher so keep your eyes peeled for our next exciting update… ?

Of course, the voice of the flatfair family has spoken. The King of renting himself, our champion CEO Franz Doerr, says “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. This is a great competitive advantage for landlords. Renters and policymakers have been trying desperately to improve standards across the market. 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.”

Following suit, Martin Mignot, at Index Ventures, said “Around $300bn is tied up in deposits globally, so freeing up just a fraction of this money would make a huge difference to millions of renters who deserve a fairer and more transparent service. But flatfair has the potential to become the ‘Paypal of property rental’ by offering a range of solutions beyond referencing and deposit management. There is huge potential for technology to help real estate companies manage operations and revenue in a more streamlined fashion, while offering tenants a better, fairer service. flatfair is already working with global companies like CBRE and Greystar to do this, and today’s announcement will help further expand the flatfair offering. I am very much looking forward to supporting flatfair on an exciting journey ahead.”

Not that we’re bragging, but we think we’ve done pretty well this year and it’s all down to the hard work of our team, the support of our managing agents and landlords, our amazing partnerships and our fabulous tenants. We’ll be sure to toast to you all at our summer party 😉