LONDON, Nov. 4, 2021 /PRNewswire/ — Proptech startup Evo has secured a £1 million investment round via the GroVentive investment platform, supported by venture capital firm Moscar Capital. Evo connects landlords, residents, and trades professionals, with the aim of making the property management process more transparent and driving down associated costs.
Evo was co-founded by Dean Shepherd and Mark Iandoli in 2018. Steve Norris – the former MP and Minister for Transport (1992-96) who chairs or has chaired a number of LSE and Aim-listed groups – became Evo's Chairman in 2019.
Working across the private and public sectors – in the public sector, housing associations and local authorities are Evo's fastest-growing segment – Evo gives landlords greater insights into their properties, with access to detailed service histories, and the ability to track jobs in real-time. Landlords and property managers benefit from a low-cost monthly subscription, while trades professionals can accept jobs on the site.
For residents, Evo says its platform means renters are empowered with more information about their homes and can report problems through its mobile app, leading to much improved turnaround times and greater customer service levels.
Dean Shepherd, Co-Founder and CEO, said: "With a tech-first approach, Evo is more like Uber or Deliveroo compared to the more traditional property management processes which are still the status quo. Renters have been crying out for a better way to communicate with their landlords and property managers, and our site goes a long way to improving what is normally a slow and frustrating process."
Mark Iandoli, Co-Founder and Head of Service, said: "The landlord tenant relationship shouldn't be difficult. Landlords want renters that will take care of their property and pay the rent on time, and all renters want is a safe, warm home to live, knowing that if something goes wrong it'll be attended to promptly and professionally."
In its next phase of growth, Evo plans to build partnerships with a host of different providers – covering areas including the payment of rent, utilities, grocery deliveries, and dealing with local authorities. Shepherd added: "Gone are the days of sitting on hold, getting bounced around or sending multiple emails without reply."
Steve Norris, Chair, Evo, said: "We were delighted by the response to this funding round, as it shows our investors' belief in the attractiveness of a smartphone enabled way to make the whole occupier experience less stressful, while offering landlords a more cost effective solution in managing repairs and maintenance services."
Jonathan Wicks, Chief Strategy Officer at GroVentive, said: "We are delighted to have closed such a significant investment in Evo. Evo has created what we feel is a truly transformational product and we look forward to working closely with the management team as they continue to scale and grow over the coming months and years to become a leading PropTech business."
Leo Davis, Co-Founder and General Partner at Moscar Capital, said: "Evo ticked all the boxes for us. They had a proven commercial product, validated by local authorities and large corporates, and a seriously impressive team. We believe Evo has developed the market's pre-eminent landlord-tenant platform, ultimately saving time and money for everyone in the process. Welcome to Gen Z property management!"
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