Lette raises $6.5m to scale AI-powered property management across Europe
Leading European proptech has opened a London office, grown its team sixfold in just one year, and helped one operator add more than 1,000 homes without increasing headcount.
The company has raised $6.5m, led by Peak Capital, with backing from leading investors across Europe and the UK, alongside notable angels including Des Traynor.
London, 27.10.2026: Lette, the AI operating system for institutional residential operators, has raised $6.5m in seed funding to scale its UK operation where its customers include Fortune 500 real estate firm JLL and large financial institutions. The round was led by Peak with participation from Pitchdrive, Heliad, Foreword VC and Adeline, as well as backing from prominent angels such as Des Traynor, co-founder of Intercom.
Changing rental regulations increase pressure on residential operators
Since the Renters’ Rights Act came into force on 1 May, fixed-term tenancies have ended in England, and most private renters can leave with two months’ notice at any time. Retention is no longer settled once a year at renewal. Operators now win or lose it every month, so the service a resident gets matters from the very first enquiry, long before move-in. Every touchpoint after that feeds straight into occupancy and income. Yet most teams still run resident service from inboxes, spreadsheets, disconnected point solutions, while portfolios grow faster than headcount.
Mohan Sai, co-founder and CEO, Lette:
“Institutional operators across Europe 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 rental 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.”
AI automation helps operators manage more homes with fewer manual processes
Across more than 30,000 residential units, Lette handles over 60% of resident support and maintenance requests automatically and 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.
Lette replaces the patchwork around the property management system (PMS) for operators across BTR, PBSA, PRS, and single-family housing. Its AI agents run leasing end to end and answer residents in seconds, at any hour and in multiple languages, 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, MRI, Res:Harmonics and other large PMS systems, and writes every update back, so the PMS stays the source of truth and teams go live in weeks with nothing to migrate.
Jakub Rajek, co-founder and CPO, Lette:
“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.”
London expansion and new hires support Lette’s European growth
Lette opened 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.
JLL highlights efficiency and resident experience
John Coddington, Head of Residential for Property Management, JLL:
“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.”
Investors see long-term potential in AI-powered residential property management
Thijs Dijkman, General Partner, Peak:
“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.”
Picture Lette AI
Source Redgert
