New jobs announced as West Midlands online lettings platform secures £750k funding

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

Their company, online lettings platform LettingaProperty.com, has just secured £750k worth of funding from the Midlands based MEIF Proof of Concept & Early Stage Fund.

LettingaProperty.com will be creating specialist roles within marketing, IT and development as it drives “customer acquisition and product innovation”. The company is also scaling its onboarding and support teams to handle increased customer enquiries while building towards its Series A funding round next year.

Jonathan Daines, founder and CEO, LettingaProperty.com, commented: “Our ambitious vision started back in 2008 and is gathering real momentum, supported by this investment plus key board appointments. We are excited about our future growth potential and the opportunity to disrupt the traditional high street lettings model.

“We aim to make renting out your property long-term as easy as filling your holiday let on Airbnb, and become the go-to choice when renting out property.”

LettingaProperty.com increased subscribers by 100 per cent in 2021, taking the firm’s revenue to over £1m. It is on course to reach £1.6m in the current year, with the company now managing nearly 1,500 rental properties across England, Scotland and Wales.

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

In addition to being headed up by Jonathan and Matthew Daines, who previously served respectively as a lettings director for a high street estate agency chain and the director of quality for Singapore’s Marina Bay Sands hotel, LettingaProperty.com has Kevin Neary as chair.

Kevin, who was co-founder of games retailer GameStop Group, was appointed as chair last year. As part of the new MEIF funding, Matthew Farrow, former finance director of online estate agency PurpleBricks, will also now be joining the LettingaProperty.com leadership team as Interim Finance Director to oversee future business scaling.

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