London-based proptech Mashroom raises €4.4 million for its automated lettings and property management service
Summary
Today London-based proptech Mashroom, which delivers an end-to-end automated lettings and property management service, has announced raising around €4.4 million from the British Business Bank’s Future Fund and current investors, which brings their total funding to €7.7 million. Founded in 2018, Mashroom incorporates the entire rental life-cycle all under one roof, from property advertising, arranging viewings, credit history checks, maintenance, to end of tenancy, and handling potential disputes between landlords and tenants. The whole process, including time spent on credit and reference checks, can take less than 2 hours, as the platform also allows users to sign rental agreements and renew contracts online in just a few clicks. This product also reduces the cash burden for tenants as they don’t have to front the deposit and lock it away for the duration of the tenancy. The recent funding will help the company accelerate its growth, in a time where the digitization of property management is further boosted by social distancing measures.