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30th April 2019

Mortgage duo secure £250k investment for new property platform

A Birmingham company which is developing a new property management platform has secured a £250,000 investment from the MEIF Proof of Concept & Early Stage Fund - managed by Mercia and part of the Midlands Engine Investment Fund - and a number of private investors.

Rent Chief’s new online platform aims to help property investors, landlords and lettings agents maximise returns and time by automating routine tasks, such as finding new tenants and reliable tradespeople. The platform also provides updates on new sector regulations and sources mortgage and insurance products.

Rent Chief has been launched by serial entrepreneurs Patrick Shuker and Jon Whitmore, the same team behind the TrigoldCrystal mortgage services group which was sold to Avelo in 2012.

The funding will allow the firm to bring its product to market, launch a sales and marketing campaign and create five new jobs. As part of the deal Jon Whitmore, the former CEO of TrigoldCrystal, has been appointed as Non-Executive Chairman of the company.

Patrick Shuker, CEO of Rent Chief, said: “From our work in the property sector and experience as landlords, we recognised that there was a gap in the market for a platform that could bring together all the different aspects of property investment and management. We are looking forward to the launch of Rent Chief and working with our investors as we continue to develop and enhance the product.”

David Baker, Investment Associate with Mercia, said: “Patrick and Jon have a strong track record within the financial services and property sectors and Rent Chief has already attracted interest from a number of early adopters. This investment will allow them to complete the software development and put their plans into action.”

Ken Cooper, MD at the British Business Bank, added: “It is great to see finance from the Midlands Engine Investment Fund being used to bring innovative products to market. With the backing of the team at Mercia, Rent Chief looks well positioned to roll out its online platform and enter a new stage in its growth journey.”

Pat Hanlon, Greater Birmingham & Solihull Local Enterprise Partnership’s (GBSLEP) Board Director for Access to Finance, said: “Helping to support ambitious companies like Rent Chief with their growth plans is key to our local economy. We are pleased to see another start-up bringing its innovative services to the region and contributing to the region’s economic growth.

“We will watch its success with interest, and continue to support businesses with investment to realise their full potential.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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Last year, the #MEIF celebrated its £50 million investment milestone after helping over 150 businesses secure the finance they needed to grow. Now with over 280 investments made - find out how you could use #MEIF investment to expand your business here - https://t.co/WeQKRS6ZcB https://t.co/l8V8r7UMeh MidsEngInv photo

Whether you are just starting out or are an established business owner, the @BritishBBank’s Business Finance Guide is a key tool for assessing which finance type is right for your business needs. Download it here - https://t.co/guhUslg4wu https://t.co/hEsxqjldWN MidsEngInv photo

Our newest fund manager @FinanceSE will deliver a £40 million debt fund with the capability to invest between £100k and £1.5 million in ambitious businesses based across the Midlands. Read more here - https://t.co/3MeyslaD1z https://t.co/3V3DRGjVXz MidsEngInv photo

Unsure about which funding type is right for your business? The #MEIF offers four different types of finance ranging from £25k to £2 million. For more information about each type and which is best-suited for your #GrowthPlans, visit our funding page - https://t.co/R1yvnMhmVM https://t.co/NSU4D0OOG1 MidsEngInv photo

#MEIF Small Business Loans are designed for micro businesses and SMEs needing debt finance for a range of purposes including: filling gaps in growth capital, funding expansion projects or leasing commercial premises. Read more here - https://t.co/JMRE95q1FM https://t.co/oHEbmyxU57 MidsEngInv photo

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If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

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Follow @midsenginv


Last year, the #MEIF celebrated its £50 million investment milestone after helping over 150 businesses secure the finance they needed to grow. Now with over 280 investments made - find out how you could use #MEIF investment to expand your business here - https://t.co/WeQKRS6ZcB https://t.co/l8V8r7UMeh MidsEngInv photo

Whether you are just starting out or are an established business owner, the @BritishBBank’s Business Finance Guide is a key tool for assessing which finance type is right for your business needs. Download it here - https://t.co/guhUslg4wu https://t.co/hEsxqjldWN MidsEngInv photo

Our newest fund manager @FinanceSE will deliver a £40 million debt fund with the capability to invest between £100k and £1.5 million in ambitious businesses based across the Midlands. Read more here - https://t.co/3MeyslaD1z https://t.co/3V3DRGjVXz MidsEngInv photo

Unsure about which funding type is right for your business? The #MEIF offers four different types of finance ranging from £25k to £2 million. For more information about each type and which is best-suited for your #GrowthPlans, visit our funding page - https://t.co/R1yvnMhmVM https://t.co/NSU4D0OOG1 MidsEngInv photo

#MEIF Small Business Loans are designed for micro businesses and SMEs needing debt finance for a range of purposes including: filling gaps in growth capital, funding expansion projects or leasing commercial premises. Read more here - https://t.co/JMRE95q1FM https://t.co/oHEbmyxU57 MidsEngInv photo

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