The cloud-based property management platform for tenants, homeowners and landlords, has secured a $1.5m seed round from Taiwanese family office fund WoodJC.
The platform will create the first end-to-end, automated and scalable product to streamline both the rental and property management process.
A core element of this is the cloud-based document management system which enhances transparency and communications between landlords and tenants.
Property documents, such as contracts, EPCs, communications and maintenance records are stored in a GDPR compliant environment, available to tenants and landlords.
Lofti will provide a range of services to enable homebuilders, property owners, contractors and tenants to collaborate on improving and maintaining their properties.
This includes the UK’s first analytics platform to enable landlords and homeowners to predict and resolve the maintenance issues in their properties.
Lofti is also providing the UK’s first on-demand fixed price booking system for vetted contractors.
Homeowners and tenants will be able to post details and photos of the work they need completed.
Local accredited 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.
Andreas Gkerazis, chief executive and founder of Lofti, said: “Everyone involved in the UK property industry deserves a better deal.
“We focus on fundamental needs by creating a community approach and raising standards with better communication, data sharing and agile collaboration.
“For homebuilders this means disrupting how their properties are managed by using data science techniques to identify and resolve problems before they lead to costly repairs and liabilities.
“Not only will this help homebuilders and insurance providers reduce costs, but also help deliver better value to homeowners and tenants, tackling longstanding quality issues.
“We know a lot of us put off repairs because we are concerned over costs or can’t find someone we trust.
“Our on-demand vetted contractor booking system has the capacity to transform access to trusted and affordable home maintenance services.
“Our focus is removing every pain point from the home maintenance and repair process.
“This means reducing the time and stress of finding the right contractor, negotiating fees and booking a convenient time.”
