Tuesday 24 August 2021 3:10 pm

London property managing platform Plentific bags $100m in fresh funding

London-based Plentific, which operates a property management platform, has pulled in $100m (£72.8m) in its latest funding round.

The Series C fundraiser, led by fresh investors Highland Europe and Brookfield Technology Partners, is set to finance its expansion plans across the US and the rest of the world.

Investors old and new piled into the latest bout of funding, including Mubadala Investment Company and RXR Digital Ventures, as well as existing investors A/O PropTech and Target Global.

The firm has reaped the benefits of the pandemic-induced renovation boom in the UK, which saw homebound homeowners and renters alike itching to do up their living spaces during lockdown.  

“We had a phenomenal year of growth, more than doubling headcount to almost 200 employees, opening an office in the United States and cementing our position in the UK and German markets,” CEO and co-founder Cem Savas said.

“We have only just scratched the surface of a $2.5 trillion potential market opportunity. We will now be rapidly expanding both our global footprint and the solutions we offer to become the de facto digital partner for landlords and service providers across the world.”

The latest capital rally has pushed the startup’s total raised equity up to $140m (£102m).

Plentific, founded in 2013, hosts a cloud-based platform for landlords, property and facilities managers and service providers.

The new capital will also help the firm push the pedal on its engineering and product development.