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Proving that renting an apartment or home is a pain no matter where you are in the world, London-based it has raised about $13 million.

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led the investment which also included participation from Dutch early-stage venture capital firm and London-based firm . The funding brings Goodlord鈥檚 since its 2014 inception to about $33 million.

The news is especially meaningful considering the company saw its CEO depart and laid off nearly 40 employees just over two years ago, according to .

Co-founder started the company in 2014 after becoming frustrated with the inefficiencies in the tenancy process. (co-founder of , founding director of another proptech company, ) took the helm as CEO in early 2018.

Goodlord鈥檚 SaaS (software as a service) platform aims to make the rental process smoother and more efficient for landlords, leasing agents and renters alike. It handles a wide range of services from contracts to references to payments.

In its own words, Goodlord’s mission is to make renting simple and transparent for everyone involved.

The company certainly seems to have rebounded since that turbulence two years ago. COO Mundy said Goodlord has seen 鈥渢he number of tenancies it processes鈥� accelerate from about 20 percent to more than 90 percent year over year in 2019. Without providing specifics, Goodlord said its number of users doubled over the last year. Meanwhile, headcount more than doubled to 97 from about 47 a year ago. The company declined to comment on annual recurring revenue.

Over the past year, Goodlord has introduced new products and platform updates. It also has expanded its service to cover corporate lets, brought in extended insurance provisions and introduced virtual banking technology for customers.

Looking ahead

Goodlord plans to use its new capital to double its client base and expand its suite of products. It also plans to hire more engineering, product and customer-facing staff.

Julian Rowe from Latitude Ventures, who is joining the Goodlord board, said in a written statement that the startup has the potential to be 鈥渙ne of the UK鈥檚 most successful property technology companies.

鈥淔or many people under the age of 40 the rental market is the housing market and Goodlord is passionate about modernising it for millions of people,鈥� he added. 鈥淏y creating software that increases the professionalism of letting agents and reduces the stress of finding and securing a home to rent, Goodlord is supplying an essential service to meet a key need.鈥�

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