The investment has been led by Skybound Capital, a London-based global wealth management business, as well as several other exiting investors.

The funding will allow for new management hires, the acceleration of existing technology pipelines, sales and marketing endeavours and will aid signals acquisition intentions.

Howsy provides end to end property management for UK landlords, from tenant find through to repairs management and renewals. It combines technology and innovative insurance products to offer a low fixed-fee management cost, saving landlords thousands of pounds a year compared to high street lettings agents.

This finance will allow Howsy to open a new operations centre in Coventry, as well as expand its team, with the company making a number of high-profile hires in senior positions.

Marc Harris joins the executive team as CTO and will focus on the fast acceleration of Howsy’s technological innovation enabling Howsy to grow at significant scale. Marc is a proven CTO with a history of innovation and customer focussed delivery having previously led the tech divisions of enterprise social media platform CrowdControlHQ and BigHand, a groundbreaking Tech Track 100 and Profit Track 100 listed digital dictation and speech recognition pioneer.

Mark Hodson, previously working at PayPal, notonthehighstreet and ACHICA, joins Howsy as CMO, leveraging his experience of marketplaces to grow awareness and customer acquisition.

The final addition of the executive team is Steven Kemp, appointed as COO who joins from Shutl (purchased by eBay) bringing deep knowledge of building operational capabilities at scale.

Founder and CEO of Howsy, Calum Brannan, said: “We’re delighted to close on our largest funding round to date and this really cements our current position as one of the leading Proptech companies in the UK. We think that renting should be better for everyone. Landlords and tenants have been underserved in this industry, and we are rapidly shaking it up through great technology and a focus on customer service.

“We’ve already started to turn this around on a national scale and this latest raise, along with a few strategic acquisitions, should not only help us in our mission, but it will enable us to scale fast as well as look at opportunities outside of the UK. We’re aiming to make renting a property as easy as booking a hotel.”