Lette, which builds AI agents for residential rental operators in the UK and Ireland, has raised $6.5m in seed funding led by Peak, with Heliad, Foreword VC, Pitchdrive, Adeline and angel investors including Intercom co-founder Des Traynor participating.
Lette was founded by chief executive Mohan Sai and chief product officer Jakub Rajek. It sells what it calls an AI operating system for rental housing, serving build-to-rent, private rented, student accommodation and single-family housing operators.
The company's pitch is that residential property teams still run leasing, resident communications and maintenance through email, spreadsheets and disconnected software, and that headcount has to rise as portfolios grow. Lette's agents sit on top of existing property management systems rather than replacing them.
The round
Peak led the seed, joined by Heliad, Foreword VC, Pitchdrive and Adeline. Traynor is among the angels. The valuation and the equity sold were not disclosed, and the company did not say whether the round included any convertible element or earlier funding.
The product and traction
Lette's agents handle a tenancy from first enquiry through to signed lease, then manage resident support, maintenance requests, rent arrears and compliance. Residents can reach the system through an app, email, WhatsApp, SMS and voice calls, with responses around the clock and in multiple languages. It also flags missed rent payments so property teams can act on arrears earlier.
The company says its software is in use across thousands of residential units. Customers include real estate services group JLL and what Lette describes as large financial institutions. It did not disclose revenue or unit counts.
Use of funds
The capital will go towards expanding the UK team across product development, engineering and customer operations. Lette plans to enter further European markets in 2027.
What's next
Build-to-rent and purpose-built student accommodation are among the most institutionally owned parts of UK housing, with large landlords under pressure to grow portfolios without matching increases in operating staff. That is the margin argument Lette's investors are backing. The next test will be whether it can turn deployments at operators such as JLL into portfolio-wide contracts before it takes on the cost of a European roll-out.
Original source: Tech.eu — https://tech.eu/2026/10/27/lette-raises-65m-to-scale-ai-automation-for-uk-rental-operators/
