Re-Leased, a New Zealand-based startup, has successfully raised NZ$2.3 million ($2.11 million) in funding from various investors, including Gerard Gillespie, co-founder of Ezibuy, as well as Kent Gardner and Paul Kendrick, partners in a private equity real estate business in London.
Established in 2013 by Tom Wallace, Re-Leased has developed a property management platform tailored for commercial properties. With over 35,000 properties under management globally, the platform currently handles more than NZ$250 million ($230 million) in monthly rent. Interestingly, 70 percent of the company’s revenue is derived from outside New Zealand.
Wallace expressed his thoughts on the evolving landscape of commercial property management, stating, “Commercial property has experienced unparalleled disruption due to emerging technologies. Landlords and property managers are embracing new and more efficient ways to handle property-related administration, attract and retain suitable tenants, and improve customer service through mobile platforms.”
He further emphasized the global market opportunity for Re-Leased and the significance of selecting the right investors to support the company’s growth ambitions. The newly acquired shareholders possess valuable commercial experience, extensive industry knowledge, and networks, particularly in the UK, which happens to be Re-Leased’s largest market.
The funds obtained from the investment round will be utilized to fuel the company’s expansion in the UK, where Tom Wallace is currently located, as well as in other international markets.
One of the investors, Paul Kendrick, expressed excitement and pride in partnering with the New Zealand company. He highlighted the property industry’s readiness for disruption, remarking, “The property industry has only paid lip service to new technology and is ripe for disruption. We firmly believe that Re-Leased will play a pivotal role in this transformation.”
Re-Leased boasts an impressive clientele, including NAI Harcourts and Barfoot & Thompson in New Zealand, Ray White in Australia, and Collinson Hall and Commercial Property Partners in the UK.
In another development within New Zealand’s startup ecosystem, electric car sharing company Mevo recently secured NZ$1 million ($918,000) in funding from Z Energy, The Wellington Company, and European Motor Distributors, the parent company of Audi New Zealand. The infusion of capital aims to accelerate Mevo’s growth trajectory.
Erik Zydervelt, co-founder and CEO of Mevo, expressed enthusiasm about the commitment of established companies to environmentally responsible initiatives. He stated, “Our investors share a vision for carbon-conscious transportation systems in New Zealand and have been excellent partners in making this vision a reality.”
Meanwhile, Auckland-based HR startup Joyous also announced that it successfully raised seed funding from notable investors, including Australian venture capital firm AirTree Ventures, TradeMe Founder Sam Morgan, and Tuhua Ventures.
Joyous, founded by Mike and Philip Carden, marks Mike’s second venture in the HR industry. He previously established Sonar6, an online performance management and succession planning startup, which he sold to US company Cornerstone Ondemand for $US13 million in 2012.
