Lette raises £5m led by Peak with Heliad
This article covers Lette, a proptech startup that has raised £5m in a seed funding round led by Peak, with participation from Heliad, Foreword VC, Pitchdrive and Adeline and angel investors including Des Traynor. The funding will be used to expand product, engineering and customer operations and to support entry into new European markets in 2027, targeting institutional residential operators to automate leasing and resident services.
Lette, a proptech startup, has raised £5 million in a seed funding round led by Peak, with participation from Heliad, Foreword VC, Pitchdrive and Adeline plus angel backing including Des Traynor. The money will be used to grow product, engineering and customer operations teams and to support expansion into new European markets in 2027. The raise arrives as changes to renters' rights and tighter margins push institutional landlords to automate leasing and resident services.
Why it matters
England’s Renters' Rights Act, which removed most fixed-term tenancy protections on 1 May and allows many renters to leave with two months' notice, has shifted retention from an annual task to a monthly operational challenge. For institutional residential operators — build-to-rent, private rented, student and single-family portfolios — the cost of empty homes is immediate. Many teams still rely on inboxes, spreadsheets and disconnected tools while portfolios grow faster than headcount. Lette’s funding signals investor appetite for tools that target those efficiency and retention gaps.
Inside the product
Lette positions itself as an AI operating system for institutional residential rental operators. Its AI agents run leasing end to end and respond to residents across channels — the resident app, email, WhatsApp, SMS or voice — in multiple languages and outside office hours. The platform manages maintenance workflows from first photo to completed repair, surfaces missed rent early and writes updates back into property management systems such as Yardi and MRI so those systems remain the source of truth. The company says operators can go live in weeks without migrating data.
On scale metrics, Lette reports service across more than 30,000 units, handling over 60% of resident support and maintenance requests automatically, and shortening the time to lease from around two weeks to under four days. Customers include JLL; one build-to-rent operator reportedly added more than 1,000 homes without increasing headcount. The team has grown sixfold in a year with senior hires such as Mitch Hammond (formerly of OnTheMarket) and Abhiram Mishra (formerly of QX Global).
In the announcement, John Coddington, Head of Residential for Property Management at JLL, said:
Margins in residential are under pressure, and our clients expect us to run their buildings as efficiently as possible. Working with Lette helps us do that. It streamlines the journey from first enquiry to signed lease and gives us a real-time view of how each building is performing and ensures that the main focus is on residents.
Who are the investors?
The seed round was led by Peak, with participation from Heliad, Foreword VC, Pitchdrive and Adeline, alongside angel investors including Des Traynor, co-founder of Intercom. The £5 million will be deployed to expand product, engineering and customer operations and to fund entry into new European markets in 2027.
In the announcement, Thijs Dijkman, General Partner at Peak, said:
We see a clear opportunity to build the AI-native operating system for residential property in Europe, and we believe Lette is leading the way. Mohan and Jakub bring deep technical expertise and sharp commercial judgement, and have moved quickly to earn the trust of major operators in the UK and Ireland. By building around the full resident lifecycle, they are creating a platform that is becoming central to how those businesses operate, with the operational data and customer relationships to build a lasting advantage. That is what convinced us to invest, and we're excited to help the team realise that ambition.
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Founder perspective
In the announcement, Mohan Sai, Co-founder & CEO, said:
Institutional operators in the UK and Ireland have never had a platform built around how their teams lease homes and look after residents. Lette takes a home from first enquiry to signed lease and stays with the resident after move-in, working alongside the systems operators already have. We're using this funding to go deeper for UK operators. Now that residents can leave at two months' notice, every day a home sits empty is lost rent, and that is what we help operators win back.
In the announcement, Jakub Rajek, Co-founder & CPO, said:
Housing is a human industry. Letting agents and property managers come into this job to look after people, yet their days are still spent chasing leads, copying details between systems and updating spreadsheets. We started Lette to automate that repetitive work and give teams their time back, so they can pick up the phone when it matters and be there when a resident really needs them.
The bigger picture
Lette’s raise sits at the intersection of two trends: rising regulatory pressure on landlords and increased investor interest in AI-first operational software for property. The company’s integration-focused approach — keeping established property management systems as the source of truth while overlaying automation and conversational AI — reflects a practical path for institutional operators that cannot rip and replace legacy stacks.
For UK and European property markets, the story highlights how policy changes can accelerate product adoption and reshape operational priorities. If Lette executes on its expansion plans, it will be an early example of AI-enabled tools moving from pilot to platform status across institutional residential portfolios, a space that investors and operators are watching closely.
They've invested in Lette
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