Landlords receive help managing properties with No Agent raising £1m

No Agent, an end-to-end management platform for landlords, has announced today (November 8) it has received around £1m of investment from private investors.

Such investors include Nick Hynes and Carl Uminski, co-founders of SOMO. No Agent is a property management platform that allows landlords to manage whole rental processes.

Landlords have seen various policy changes coming into place, such as Section 24 reducing profits or the PRA restricting how much they can borrow, coupled with rising interest rates. No Agent uses technology to help the rental market and has pioneered the ‘no fees to tenants’ model.

Calum Brannan, 28, founder of No Agent, said: “As a landlord myself, I kept coming up against shoddy letting agents that weren’t transparent, underserviced and were overpriced.

“This is a common problem for both landlords and tenants. We created No Agent as a new alternative that can do everything traditional agents do, and more, at a fraction of the cost.”

The business has continued to grow by approximately 35 per cent month-on-month for the last six months, recently obtained FCA approval, and has recently opened an office in Coventry - Calum’s hometown in the West Midlands - an emerging PropTech spot.

He continued: “We’ve now received approximately [around] £2m in funding in total, and this latest injection will be used for developing our ‘renting as a service’ ecosystem and AI offering, as well as boosting our senior leadership team. This will set us up nicely for a Series A funding round next year.”

Nick Hynes added: “No Agent offers a genuine solution to save landlords time, money and provide flexibility. We believe ‘renting as a service’ is the direction the market will move in, and No Agent was set up to achieve this and lead the market.”