Least, a digital platform for the leasing industry, has raised £1.5m in a seed funding round led by Love Ventures.
Concrete Ventures and a consortium of angel investors with experience in the real estate, legal and financial sectors also joined the round.
Least will use the proceeds to fulfil immediate demand and deploy the product across assets of any sector, size, or complexity.
The funds will also support the growth of Least’s team, with David Cummin joining the team as new CTO.
Leon Ballard, a former leasing agent, and Nick Kirby, a lawyer, founded Least to streamline the leasing process.
Ballard said: “Having developed a unique market-leading solution for the commercial property leasing process, we felt that the size of the opportunity to expand into new sectors and geographies warranted an influx of capital.”
The platform is said to bring together landlords, tenants, and agents together to prepare and engage in negotiations.
It addresses pain points such as lack of time and unnecessary costs by digitising heads of terms, automating the lease and applying electronic signatures.
Love Ventures general partner Adrian Love said: “Our investment in Least is based on a mutual understanding that the real estate industry has considerable scope for innovation and in particular, time and cost efficiencies created by the use of digital platforms.”
Concrete Ventures general partner Taylor Wescoatt said: “It is clear that Least is providing a digital solution in a space where for too long the time-consuming nature of the traditional process only served to increase costs and frustration.
“We are looking forward to supporting Least in further rolling out and developing the product to fit building owners across the real estate industry.”
Last week, UK-based Muse Finance launched a combined supply and invoice finance platform.