60 second start-up: Rentify

0-5 seconds: Sum your business up in a sentence:

Rentify is one of the UK’s largest letting agents. We’re not on the highstreet, and we use our high volumes and clever technology to provide a better service to landlords without huge fees.

5-10 seconds: What's the business model?

Traditional agents struggle because they need big volumes but are strictly limited by geography. We aren’t. We use clever technology to improve and automate every step of the cycle.

10-15 seconds: Who are your competitors?

Most of our competitors are high-street agents who don’t really know much about technology, and are still charging people incredibly high fees for a slow, complicated service.

15-20 seconds: What's your USP?

Rentify is to letting agents what iTunes was to record stores: we’re an online, technology-enabled letting agent.

20-25 seconds: How have you funded it so far?

Top-class investors such as Balderton Capital, Karl Peterson, and D5 Capital have funded us so far.

25-30 seconds: What were you doing before?

I worked in brand marketing at WCRS and Engine, working on brands like EE, News International and Weetabix.

30-35 seconds: Where did the idea come from?

If we started human civilisation again tomorrow, we wouldn’t want letting agents. We’d want a better way of doing things. So we’re focusing on making that happen.

35-40 seconds: What's the smartest thing you've done so far?

We invest in our infrastructure in a way that others don’t. This year we spent £250,000 on a new contact centre to support our landlords and tenants.

40-45 seconds: What's the stupidest?

Agreeing to foot the bill for a 40-strong team night out in Darlington. 

45-50 seconds: If your business was a biscuit, what would it be?

I don’t think I could possibly speculate on this.

50-55 seconds: Which idea are you a bit jealous of?

In terms of execution of an idea, Everpix.com was probably the best execution on an idea I saw in the last few years. (Sadly no longer with us.)

55-60 seconds: Where are you going to be in 12 months' time?

The market is definitely shifting in our direction. We are by no means a niche business - we transacted with 100,000 landlords last year: more than most agents put together. Our chief objective is to drive high-street agents into obsolescence by providing landlords a better, faster, service – in 12 months’ time I’d like to see us well on our way to achieving that!

To find out more about Rentify click here. You can also like them on Facebook or follow them on Twitter.

Catch up with our previous 60 Second Start-Up: Give A Grad A Go 

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