OpenRent, the UK’s property rental platform, has announced a strategic partnership with CVC.
Funds under the management of CVC are making a majority investment in OpenRent, with founders Adam Hyslop and Darius Bradbury remaining significant shareholders and continuing to lead the company. The partnership backs OpenRent’s next phase of growth and innovation as it continues to transform how landlords and tenants rent homes in the UK.
This next phase will see OpenRent invest in its platform and make renting simpler for its users. The roadmap includes new tools for both landlords and tenants that take more of the admin, complexity and cost out of renting in the UK.
Adam Hyslop, co-founder and CEO of OpenRent, said, “OpenRent has become a trusted part of the market and we still see enormous opportunity ahead. CVC shares our ambition and brings experience and resources that can help us accelerate the next stage of growth, broaden what we offer customers and create even more value for landlords and tenants.”
Darius Bradbury, co-founder and CTO of OpenRent, said, “OpenRent has already proven that technology can transform the rental journey, but there’s still a lot left to go after. Our roadmap is full of new tools to empower landlords and tenants throughout the entire rental lifecycle, while making sure the product they already use keeps feeling delightfully simple at every turn.”
Jean-Pierre Saad, Managing Partner at CVC, said, “We are very excited to partner with Adam and Darius who have built a category-leading platform that has already changed how people rent homes in the UK. OpenRent is very well placed to continue to be the UK’s direct to landlord platform helping landlords and tenants alike to manage the increased complexity of the rental process.”
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