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Property rental platform Goodlord has announced closing a £7 million Series B preferred equity investment from Finch Capital, supported by existing investors, Rocket Internet and Global Founders Capital.
A cross practice Fieldfisher team advised Goodlord on this investment deal which required a share capital and debt restructuring alongside implementing a new management incentive scheme by way of establishing an Employee Benefit Trust.
Led by corporate partner Tom Ward in Manchester, the team also consisted of banking partner Robin Spender and tax partner Mark Gearing, both from the London office of Fieldfisher as well as solicitors Rachel Leigh and Tamsin Nicholds. This deal highlights the strength of our technology focussed venture capital practice acting for fast growth FCA regulated UK tech companies on their venture capital funding rounds, and our expertise in equity incentive arrangements for VC-backed companies.
Goodlord’s software platform allows letting agents to streamline the tenancy application process in one place and includes digital contract generation and signing, comprehensive referencing, and further products and services such as landlord and tenant insurances, utility and media-switching services. The firm says the new funding will be used to build new products, grow its customer base, and invest in the further development of Goodlord’s proprietary technology to achieve its mission of making renting simple and more transparent for letting agents, tenants and landlords.