Proptech startup Lavanda has received $5m (£4m) is a round of Series-A funding led by Henley Ventures.
Lavanda gives asset managers a platform to create Airbnb-style short and medium-term rentals across their portfolio.
The company says its software has helped increase the net operating income of multi-family, build-to-rent, and student accommodation by up to 20%. Some 10k units are managed on the platform and its customers include JLL, Aberdeen Standard Investments and Savills.
“Lavanda legitimises and institutionalises short and medium-term rental options for commercial landlords, providing a best-in-class technological solution.”
said Justin Meissel, Henley’s chief operating officer and managing director in Europe.
“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.”
said Lavanda’s founder Guy Westlake.