No Agent, the online property management platform, has managed to rake in more than £584,000 through the success of its crowdfunding campaign, with more than 200 investors contributing.
No Agent, headquartered in London, has the goal of disrupting the rental market by reducing landlord costs, and eventually facilitating a complete replacement of the current function of letting agents. They’re on a mission to “clean-up and revolutionize the rental sector.”, looking to change the way landlords rent their properties in a big way.
Making use of technology to provide customer experience, No Agent is pioneering an easy method to manage the entire rental process from start to finish. Its services include marketing, administration, management and 24/7 support for one fixed monthly fee. They are saying goodbye to calls never being returned, commissions added to repair bills and terrible customer service, and leveraging technology to give you everything a traditional agent or online agent would.
The firm’s founder, Calum Brannan, calls himself a “frustrated landlord”, who previously formed CrowdControlHQ, a risk management software for businesses using social media. The firm claims it is currently valued at approximately £4.2 million.
According to the startup, it plans to use the new inflow of funds, painstakingly raised on crowdfunding platform Seedrs, to go towards the development of its artificial intelligence services, and also to expand its online marketing.
Investors include Gillian Kent, former CEO at Propertyfinder.com (acquired by PropTech giant Zoopla), and Nick Hynes, former founder and CEO of Overture Europe (acquired by Yahoo).
Brannan commented on the funds raised, saying that they will “enable us to further build our market share, find even more exciting ways to implement new technologies including artificial intelligence, shake up the rental sector, and continue to grow our team of experts”. He also added:
We are completely dedicated to shaking up the rental market and replacing the current function of letting agents.