AI-powered property compliance platform secures £500k investment

Property compliance firm GetRentr has secured a six-figure boost from a group of strategic investors.

The geospatial-powered platform raised more than £500k from Life Ventures, EPIC Private Equity LLP and a number of individuals.

Clerkenwell-based GetRentr was founded by Orla Shields, Alex Schembri and Richard Lainchbury.

It uses artificial intelligence to track all UK property licensing regulations and consultations in real time, providing an automated service that enables agents and property managers to keep their portfolios compliant.

GetRentr also hopes to put an end to unsafe, substandard rented accommodation by exposing rogue landlords.

CEO Orla Shields said: “At GetRentr our vision is to raise the standards of rented accommodation through the innovative use of data and technology, whilst also offering letting agents and landlords significant savings and revenue opportunities by automating complex, error-prone compliance processes.

“Our pioneering data and technology platform delivers transparency, measurable impact and strong stakeholder returns - things which will set us apart in terms of our ability to recruit the best talent, scale the business globally and enjoy sustainable success.”

She continued: “This investment comes from an incredible group of investors, who add significant value well beyond their funds, bringing expertise that will help us accelerate market reach and our development roadmap.

“We are excited to work with these investors, and this additional funding will allow us to bring more features to more markets. This is just the tip of the iceberg in terms of our long-term vision and expansion plans.”

Elsewhere, GetRentr is part of mapping agency Ordnance Survey’s Geovation 2018 cohort. Ordnance Survey runs the initiativ in association with HM Land Registry.

LiFE Ventures chief exec Jon Wreth commented: “When we first came across them we had no idea anyone was doing something like this and we were really impressed with what they had developed.

“We approached Orla who came over to see our office and saw how we do things and met the other tech start-ups we have invested in.”

He added: “We’re having major headaches with licensing at the moment and GetRentr can help us solve them and offer a better service to our landlords.”