Hammock - the FinTech startup that's made by landlords for landlords
by Startacus Admin
Finances for landlords made easy thanks to FinTech startup Hammock...
For landlords with multiple properties, it can be a hassle to keep track of your properties, keeping an eye on who has and has not paid their rent, and getting an overview of what properties are making a profit. Obviously, the more properties the landlord has, the more difficult and more of a hassle it becomes to maintain this overview. The natural solution to this is to gather all of the necessary information into one place.
London-based fintech startup Hammock has built a platform that does just that, giving landlords a clear overview of their properties.
As well as an overall profit and loss analysis, the platform breaks down each property so that you can always see at a glance which properties are occupied, what the rent for each is supposed to be, whether the tenant has paid, how much you have made from the property in total, and how much you have expended on it.
You can also keep track of mortgages, maintenance, and insurance directly from the app. Hammock combines all relevant transactions from your bank accounts via Open Banking, securely and in real-time to ensure that you can stay on top of things.
Since launching in May 2019, Hammock has tracked more than £7m in rent from over 2,000 tenants, and in August 2020, the startup announced a £1m seed funding round led by Fuel Ventures and Ascension Ventures, who join Founders Factory and Aviva in Hammock’s list of investors.
With this backing and a range of pricing options from free, to £9.99 (+ VAT) a month, to a custom package tailored to the landlord, we can see this platform becoming widely used across the UK within a short time.
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Published on: 19th August 2020
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