9 years ago

Tenancy Deposit Startup Reposit Secures £400K in Funding

  • Reposit, a London-based tenancy deposit startup, has raised £400,000 in funding

  • Backers include Seecamp, the London Co-Investment Fund, Paul Rayden, and other angel investors

  • Reposit provides a technology platform for tenants to affordably manage the deposit needed to move property in the UK

  • The company offers a paperless alternative to the tenancy deposit system, with tenants paying a 1-week fee through their letting agent

  • The company emerged from the inaugural London cohort of the Newcastle-based Ignite Accelerator.

      • ProblemTechnology

      "It is expensive to move homes in the UK, and tenants need to pay a deposit that can be thousands of pounds. This can be a barrier to people moving, and it can also be difficult to get the deposit back if there are any issues with the property."

      Solution

      "Reposit offers a cheaper alternative to traditional tenancy deposits. Tenants pay a weekly fee to Reposit, which covers the landlord for any damage or unpaid rent. This makes it easier for tenants to move home, and it also provides landlords with more security."

      Covered on