Yahoo Finance London proptech start-up LandTech secures new funding to expand
A London-headquartered ‘proptech’ start-up that helps developers with land buying, plans to double staff headcount after securing £42 million in funding to expand.
LandTech, founded in 2010 by former town planner Jonny Britton and software engineer Andrew Moist, helps with off-market property development opportunities.
It provides data on prices, the likelihood of securing planning consent and estimates on building costs.
The firm today said it has raised £42 million, led by US investment firm Updata Partners and one of tech backer Flashpoint’s funds.
There has also been additional commitments from some existing backers.
The capital raise will be used towards expanding the product offering and overseas expansion.
LandTech also wants to double staff to 260 within the next year. Around half of its current team are based in London.
Britton said: “Our goals are to streamline the process of unlocking the value of land with a unique ecosystem of data-driven tools that will fill a critical void in the growth of the property development industry globally.”
Jon Seeber at Updata said: “LandTech has achieved incredible growth with minimal funding and we’re excited to help them accelerate their international expansion and product development.”
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