:
UK: Lette, an AI operating system for institutional residential operators, has raised $6.5 million in seed funding to scale its UK operations.
The round was led by Peak with participation from Heliad, Foreword VC, Pitchdrive and Adeline, as well as backing from prominent angels such as Des Traynor, co-founder of Intercom.
Lette’s UK customers include Fortune 500 real estate firm JLL and large financial institutions.
Mohan Sai, co-founder and CEO of Lette, 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.”
Across more than 30,000 units, Lette handles over 60 per cent of resident support and maintenance requests automatically and says it has cut the time it takes to lease a home from two weeks to under four days. One of the leading build-to-rent (BTR) operators has added more than 1,000 homes without increasing headcount, says Lette.
Lette says it replaces “the patchwork around the property management system (PMS)” for operators across BTR, PBSA, PRS and single-family rentals. Its AI agents run leasing end-to-end and answer residents in seconds, at any hour and in any language, through Lette’s AI-powered resident app, email, WhatsApp, SMS or voice calls. They manage maintenance from first photo to completed repair and spot missed rent early, so teams can step in before arrears build. Lette syncs with Yardi and MRI, among others.
Jakub Rajek, co-founder and CPO at Lette, 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.”
Since opening its London office and grew its team sixfold. Its UK team includes two senior industry hires: Mitch Hammond, formerly of OnTheMarket, and Abhiram Mishra, formerly of QX Global. The funding will be used to further grow the UK team and hire across product, engineering and customer operations. It will also fuel expansion into new European markets in 2027.
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.”
Thijs Dijkman, general partner at Peak, added: “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.”
Highlights:
- Lette, an AI operating system for institutional residential operators, has raised $6.5 million in seed funding to scale its UK operations
- The round was led by Peak with participation from Heliad, Foreword VC, Pitchdrive and Adeline, as well as backing from prominent angels such as Des Traynor, co-founder of Intercom
- Lette’s UK customers include Fortune 500 real estate firm JLL and large financial institutions
- The system is in operation across more than 30,000 living sector units in the UK
