Breaking Property News 07/10/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Kristjan Byfields’ proptech ‘The Depositary’ gets top level accolade from numerous industry bodies
The Depositary has just announced that they are thrilled to have been ranked 5th in BusinessCloud’s highly anticipated PropTech 50 for 2024. This annual ranking highlights the most innovative startups, scaleups, and established firms creating technology for the UK’s real estate, construction, built environment, and building management sectors. The UK is home to over 900 proptech companies, many of which are located in London. The UK is a global hub for proptech companies and is leading the way in integrating sustainable initiatives into the sector.
An Deckers, Co-Founder, said “This is a fantastic validation of what we have built so far, but we have so many exciting plans in store. This includes new features, functionality and integrations making the platform even more effective and seamless. Excitingly, we plan to release our first Reapit integration in early 2025 and our long-awaited adoption of AI shortly thereafter. The future is exciting’.
Meanwhile, Carla Burnett, The Depositary’s Flight Engineer said “With over 51,000 tenancies now concluded through our platform by our amazing agent community, we have now comprehensively proven our platform delivers to agents, tenants and landlords alike. This is a huge validation of our work over the last four years and it is exciting to see what the next 12 months holds in store”.
The final ranking was determined by a combination of public votes and selections from an expert judging panel, including representatives from the UK PropTech Association (UKPA), the British Property Federation (BPF), Real Estate Women & Cambridge Finance, OBI Property and, of course, BusinessCloud.
The Depositary made the initial shortlist of 127 companies containing over 20 well-known suppliers to the residential agency sector, with many companies which had had multi-million investment and were long admired not mading the final cut. To be recognised as the most innovative proptech company serving their marketplace is incredible when you see Rightmove, Fixflo, Inventory base, Reposit, Sprift, Plentific, Homesearch and Helpthemove in the same list. It really is a standout Netflix Vs Blockbuster moment that shows that great tech shines through because users need and use it.
“We were delighted to make a shortlist full of innovators and market leaders in PropTech. To be ranked 5th is an incredible validation of the mission we are on to transform tenancy conclusions for all. This ranking reinforces the impact we are making in streamlining the tenancy conclusion process for letting agents and landlords. We are also one of, if not the only, company in the list that is entirely self-funded to date- no small achievement in the world of tech,” said Kristjan Byfield, Co-founder of The Depositary.
Author comment Andrew Stanton CEO “Although ‘The Depositary’ has never been a client of ‘Proptech-PR‘ our consultancy which gets founders from MVP to exit, I have known Kristjan and his team for several years and followed the progress of his ever scaling business with the greatest admiration. Kristjan and team are the perfect case study of, find a real problem that needs fixing, understood by a person who is frontline mind in that industry and build a service that solves it, that is commercially viable, sticky, and automates away the headaches of the client user. Now that is a business that deserves a much wider stage and I am sure that this award will focus the hard earnt attention that The Depositary deserves.’
And for those who do not know what ‘The Depositary’ is, it is a comprehensive SAAS platform that automates the tenancy conclusion process, offering a streamlined and transparent experience for letting agents, landlords, and tenants. By significantly reducing manual tasks, The Depositary saves time, improves compliance, and enhances tenant satisfaction.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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