Proptech Lofti secures $1.5 million Seed Round and senior hires from Revolut and leading fintechs
Revolut Lead Product, Co-Founder and CTO of Plum and tech leads from FX Pro join property management platform on the back of investment from WoodJC
London, UK; 9th June 2021: Lofti, a property management platform for tenants, homeowners and landlords, has secured a $1.5 million Seed Round from Taiwanese family office fund WoodJC.
The London-based startup has also hired Revolut’s former Lead Product Yang Li as Product and Design Lead and the Co-Founder and ex CTO of Plum Alex MIchael as Interim CTO and former FX Pro Tech Lead Angelos Pillos and Senior Engineer Demetris Hoplaros join as Solutions Architect Lead and Software Engineering Lead respectively.
Vasileios Zavitsanos has also joined as COO from previously leading the Property Development and Management arm of a family office.
Lofti’s aim is to create a community-driven platform for service providers, contractors, property owners, homebuilders and tenants to collaborate on improving and maintaining their properties. To do this Lofti is building a suite of solutions including:
- The UK’s first on demand fixed price booking system for vetted contractors: Homeowners and tenants post details of the work they need completed along with imagery. Local contractors, such as plumbers and electricians, can then accept the job in a similar way to Uber drivers accepting a fare. Users, including tenants, are able to track the arrival time of their contractor, communicate, agree and pay fees and sign off work via the Lofti app
- A cloud based document management and communication platform to enhance transparency and interactions between landlords and tenants. All contracts, conversations and maintenance is logged and viewable to improve the relationship between both parties
- Data analytics to predict potential maintenance issues. Information on problems in properties is collected to identify common problems in property developments or with particular appliances. Predictive analytics enables landlords, homeowners and home builders to be informed about and rectify issues before they develop
- A community hub to enable different groups such as landlords to share advice, provide support or exchange services
Andreas Gkerazis, CEO and Founder of Lofti, said:
“Since coming to the UK I have been a tenant, home owner, landlord and property developer. This has given me insights into problems within the industry that cause a lot of stress and waste a lot of time and money for all parties. My view is that we need to focus on fundamental needs by creating a community approach where everyone is able to work together to raise standards. This means improving the relationship and communications between homeowners and contractors, and tenants and landlords. By working together we can cut costs, improve satisfaction and give everyone a better deal.
“This investment alongside the world class expertise and experience of our growing team will enable us to start to realise this vision. We have big ambitions to rapidly scale across the UK within a year before looking towards expanding our offering across Europe.”
Yang Li, Product and Design Lead at Lofti, said:
“Lofti is an exciting startup to join because of its commitment to innovation coupled with its ambition. Tackling these problems within the property industry will help a lot of people. There is also a lot of scope to develop Lofti’s offering in a number of interesting ways. I’m delighted to join the team and work alongside some of the UK startup scene’s leading talent.”
Lofti will use its Seed Round to expand its services across the UK, further grow its team and develop its community hub. The platform is currently available as an iOS and web app, with the Android app set to launch soon.
Lofti is a cloud-based property management platform for tenants, homeowners and landlords available on iOS, Android (coming soon) and a dedicated desktop web app.
Lofti’s aim is to provide a seamless and streamlined experience where transparency, efficiency, high standards and better pricing are prioritised by putting humans first.
The end-to-end experience starts from the tenant onboarding, efficient property maintenance, management and overall monitoring of a single or a portfolio of properties.
Lofti provides a cloud-based document management and communication platform to improve transparency and interactions between landlords and tenants, the UK’s first on-demand fixed price booking system for vetted contractors, data analytics to predict potential maintenance issues, and a community hub to enable different groups such as landlords to share advice, provide support or exchange services.
Founded by Andreas Gkerazis in 2020, it is headquartered in London and has recently raised $1.5m in Seed Funding from WoodJC, a Taiwanese family office fund with international investment remit in tech and real estate sectors.