Ezylet, a property portal aimed at private landlords, has launched an equity crowdfunding campaign on Invesdor, seeking fresh funds to grow the business.
The company, which was founded by landlord and investor Paul Foy, provides landlords with a platform to advertise their property, supported by a selection of services for property management.
In addition to property listings, landlords can find and reference a tenant, and obtain a rent guarantee for the duration of the tenancy. Ezylet can also provide a rent collection or a management service.
“At Ezylet we are providing many solutions to empower landlords to control the management of their properties and reduce their ongoing costs,” said Foy. “Typically, an estate agent will charge one month’s rent to find a tenant, plus 10%-15% for ongoing management. At Ezylet we believe we can reduce these costs by as much as 70%.”
Ezylet state that it chose to use Invesdor for the funding round because the crowdfunding platform offers an easy-to-use online tool that enables them to raise funds while gaining international visibility.
Self-funded until 2016, Ezylet is currently raising £1.5m, with the aim of an IPO in the coming weeks, subject to market approval.
Henrik Ottosson, head of Invesdor UK, said: “Ezylet fills a crucial market gap, empowering landlords to take control of and manage their lettings via an array of online tools.
“At Invesdor, we believe Ezylet’s business plan of continual evolution, improvement and expansion of their offering will provide the best return to investors, and the best outcome for the UK’s housing market.”
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