British accessories technology company lavender raised $7.25 million. The investment round was led by a European prop tech and fintech venture capital firm Capital of fincheswith the participation of an American real estate investor Capital Starwood via a European partner concrete CV.
Founded in 2015, the company’s property management software enables owners and operators of residential properties to easily outperform conventional rental yields by leveraging short- and medium-term rentals alongside more conventional long-term rentals.
The new capital will help the startup accelerate its product development and double the growth it has already seen in the United States, Europe, the Middle East and Australia.
The product focuses on the specific needs of the multi-family housing, student housing and serviced apartment sectors, where the company’s rapidly growing global customer base includes institutional players such as Greystar, Blackstone, Hines, Nuveen and Aldar.
Frederik Lerche-Lerchenborg, CEO of Lavanda, said, “The new capital injection is an important step towards realizing our vision to become the de facto technology platform to power a more flexible, accessible and affordable way of life. This allows us to further strengthen our core product with a series of unique new features and strengthen our team. »
Aman Ghei, a partner at Finch Capital, said: “Rental demand has seen a fundamental shift. As people become more familiar with the ease and experience of booking a home through Airbnb, they’re coming to expect the same when renting out their primary residence. To date, this has simply not been possible due to archaic rental structures and a lack of enabling technology. The Lavanda team cleverly identified this gap and developed a new software layer that makes it easy for institutional owners to increase returns by leasing their inventory by the day, week, month or year in line with their strategy. commercial.