Summary
Source: Tech.eu Read the original article
residential property operators, has raised $6.5 million in seed funding to
expand its operations in the UK and support its planned European expansion. The
round was led by Peak, with participation from Heliad, Foreword VC, Pitchdrive
and Adeline, alongside angel investors including Des Traynor, co-founder of
Intercom.
Founded by Jakub Rajek and Mohan Sai,
Lette develops an AI operating system for the rental housing sector in the UK
and Ireland, serving build-to-rent, private rented, student accommodation and
single-family housing operators.
The company aims to address operational
challenges in residential property management, where teams often rely on
emails, spreadsheets and disconnected software tools to manage leasing,
resident communications and maintenance requests. As property portfolios
expand, operators face increasing pressure to manage these activities without a
corresponding increase in staff.
Lette's platform uses AI agents to
automate tasks across the residential rental process, from initial enquiries
and leasing to resident support, maintenance, rent arrears and compliance. The
system works alongside existing property management software, allowing
operators to manage workflows without replacing their current systems.
Mohan Sai, co-founder and CEO of Lette,
highlighted the need for technology tailored to the operational requirements of
residential property managers:
Lette takes a home from first enquiry to
signed lease and stays with the resident after move-in, working alongside the
systems operators already have.
Lette's platform manages resident
communications through an AI-powered app, email, WhatsApp, SMS and voice calls,
providing responses around the clock and in multiple languages. It also
supports maintenance management, from initial requests to completed repairs,
and identifies missed rent payments to help property teams address potential
arrears.
Jakub Rajek, co-founder and CPO, added
that Lette aims to reduce repetitive administrative tasks, allowing property
managers to focus more on direct interactions with residents.
According to the company, Lette's
technology is used across thousands of residential units, helping operators
automate resident support and maintenance requests, reduce leasing times and
manage larger property portfolios more efficiently. Its customer base includes
real estate services firm JLL and large financial institutions.
The new funding will support further
expansion of the UK team, with planned recruitment across product development,
engineering and customer operations. Lette also intends to enter additional
European markets in 2027.
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Source: Tech.eu
