Property management app Livly has scored $8m in a funding round which will support its growth across the US.
The round was supported by private equity firm Geolo Capital and venture capital firms OCA Ventures and Founder Equity. Several unnamed strategic investors from the real estate industry also participated.
Livly, a Chicago-based PropTech, plans to use the fresh equity to accelerate growth to new domestic markets and the development of new technology solutions.
The FinTech offers a property management application which helps renters easily complete tasks including move-in onboarding, setting up renters’ insurance, requesting maintenance, receiving package notifications and more.
To make renting less burdensome, tenants can set up their rent through the app to be sent on time and keep track of all payments.
Property managers can also use Livly to better manage their property including communicating with tenants, monitoring rent payments and keeping track of maintenance.
The platform is available in more than 10 US cities and has partnerships with real estate firms including The Related Group, Lincoln Property Company, and Golub & Company.
Livly CEO Brian Duggan said, “We’re very fortunate to have such strong support for our vision from both institutional and strategic investors, who position Livly as one of the best capitalized startups in this burgeoning industry. This investment round is a vote of confidence from the private markets in our unique ability to create substantial value for our clients in the multifamily industry.”
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