Howard Kennedy give property software firm Arthur a stable foundation for £1m+ equity fundraising
Law firm Howard Kennedy advised new client Arthur Online Limited, a next generation property management software firm, on its first round of external funding, which raised over £1m via equity subscriptions.
Founded and developed by property managers for property managers, Arthur (www.arthuronline.co.uk) provides a ‘one-stop-shop’, cloud-based, end-to-end property management solution which simplifies the process of property management by allowing a group of interconnected stakeholders to connect and share through a platform from anywhere in the world. Arthur was established in 2014 and has experienced huge success in the UK and internationally. It is currently used to manage over 50,000 units across 27 different countries.
The fundraising was a huge success and was oversubscribed, paving the way for a significant investment into the business, allowing it to scale up its operations. The investment took advantage of the company's SEIS and EIS qualifying status.
Mark Jones, Chairman of Arthur comments:
I have watched Arthur’s development since its inception and have been deeply impressed with the firm’s use of innovative technology, to build a ground-breaking software platform for property managers. Arthur’s potential is huge. It is a highly scalable business, featuring a technology platform that can be used by property managers across a range of sectors, from residential lettings to social housing and student accommodation.
“From 2016 to 2017, Arthur’s income from paying property managers increased by 290%. The forecast growth and expansion of Arthur in the UK and internationally will create great returns for our shareholders over the next two to three years.
Arthur Online Limited has great potential to be a disruptive technology in the property management sector, as shown by the level of interest from investors, and we are delighted to have been able to help the Arthur team into the next phase of the company's growth.
About Howard Kennedy
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors.
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