London proptech start-up LandTech secures new funding to expand

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The London-headquartered ‘PropTech’ start-up, which helps developers buy land, is planning to double staff headcount after securing £42 million in funding for expansion.

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LandTech, founded in 2010 by former town planner Johnny Britton and software engineer Andrew Moist, helps spot off-market property development opportunities.

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It provides data on prices, the likelihood of securing planning consent and estimates on building costs.

The firm said today that it has raised £42 million led by one of the funds from US investment firm Upda Partners and tech backer Flashpoint.

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Additional commitments have also been received from some existing supporters.

The capital raised will be used to expand product offerings and overseas expansion.

Landtek wants to double the workforce to 260 within the next year. About half of its current team is based in London.

Briton said: “Our goal is to streamline the process of unlocking the value of land with a unique ecosystem of data-driven tools that will fill a critical void in the growth of the property development industry on a global scale.”

John Seiber in the update said: “Landtec has achieved incredible growth with minimal funding and we are excited to help them accelerate their international expansion and product development.”

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