LettingaProperty.com has appointed Purplebricks’ former finance director Matthew Farrow after it raised £750,000 to develop further plan to build a new letting platform for landlords and tenants.

Farrow, hired as interim finance director, will initially focus on securing fresh investment for the company, which is firmly focused on using technology to help improve the rental experience for both landlords and tenants.

The Warwickshire-based PropTech company secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund and Mercia’s EIS funds

The firm is planning a Series A investment round next year and plans to create 15 jobs in the next 18 months.

Jonathan Danies, chief executive at LettingaProperty.com, said: “Our ambitious vision started back in 2008 and is gathering real momentum, supported by this investment plus key board appointments.

“We are excited about our future growth potential and the opportunity to disrupt the traditional high street lettings model. We aim to make renting out your property long-term as easy as filling your holiday let on Airbnb, and become the go-to choice when renting out property.”

Stephen Windsor of Mercia added: “Jonathan has used his experience in property management to digitally enhance each step of the tenancy journey. lettingaproperty.com is one of the longest-established rental platforms and is unique in that its technology is backed by an experienced lettings team.

“The investment will enable the company to scale the business faster and cement its position in the market.”