Complex Buy To Let
BTL platform GetGround secures funding and eyes growth
GetGround, the digital buy to let (BTL) management platform, has reported significant growth and has raised an undisclosed amount in a Series A funding round.
The firm, which launched last year, allows people to set up limited companies online within 30 minutes which can then be used to purchase BTL properties. The platform also allows users to manage rental income and expenses via a current account.
Since it was founded the number of companies on the platform has increased six-fold year-on-year. Around 3,500 landlords and property investors are now registering companies on the platform.
The firm is operating an annualised run rate of over 2,000 new companies a year, which manage properties with a cumulative value of more than £500m.
It added that it expected the cumulative value of properties managed would exceed £1bn in the coming months.
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The firm has also completed a Series A funding round with investors including QED Investors, Mosaic Ventures, Hambro Perks and Taavet Hinrikus. The round will be used to expand its 500-strong partner network.
The amount raised was not disclosed.
GetGround co-founder and chief executive officer Moubin Faizullah Khan (pictured) said: “Our platform directly addresses the demand from these investors to make company BTL investments as straightforward and efficient as they can be.”
He added: “Expensive administration and labyrinthine communication between multiple parties shouldn’t be barriers to property investing. We’ve barely scratched the surface of how critical an all-in-one platform like GetGround is to this vast market.”