Lavanda, the UK rental platform enabling real-estate companies and landlords to lawfully profit from Airbnb-style rentals and homeshares, has raised $5 million to continue streamlining and legitimising the market. The Series A round was led by real-estate private equity firm and VC, Henley.
After starting as a laundry sharing-economy company, Lavanda pivoted when it saw an opportunity in the short-term rental market. Short-term rentals are often managed through disorganised and illegitimate systems. Laws governing the market evolve quickly and require specific compliance, leaving landlords and other hospitality professionals confused about how to rent out their properties in a safe, cost-effective way.
To help institutionalize rental compliance and increase income, Lavanda offers an award-winning SaaS platform for property managers of all kinds. The platform currently serves over 10,000 rental units and some of Europe’s leading real estate portfolios, including JLL, Aberdeen Standard Investments, Savills, LaSalle, Long Harbour and Europa Capital.
“Traditional hospitality, travel and real estate industries are converging fast,” comments Guy Westlake, founder of Lavanda. “By providing landlords and developers with the missing technology toolkit to harness this global trend, Lavanda unlocks a new wave of innovation for residential real estate. Partnership with Henley and their investment into the business enables us to take a major step towards realising our vision; to become the de facto technology platform powering a compliant global short and medium-term rental ecosystem.”
The funding will accelerate Lavanda’s growth in the UK and aid its global expansion, particularly into the US and Middle East.