Newspaper article The Journal (Newcastle, England)

Investment Boost for Tenant Reference Firm; LETTING MARKET

Newspaper article The Journal (Newcastle, England)

Investment Boost for Tenant Reference Firm; LETTING MARKET

Article excerpt

Byline: coreena ford

ARAPIDLY rising tenant referencing firm in Newcastle is set to grow after receiving a multi-million-pound private equity investment.

Newcastle-based Van Mildert carries out tenant references for lettings agents and also provides insurance. From setting out in 2009, the company is this year expected to carry out more than 200,000 references on behalf of its clients.

The firm's technology means letting agents can order, track and receive tenant references at the click of a button from its lettings software, and its products work through leading UK software providers.

Now the company, which was set up eight years ago by Christian Balshen and Richard Hammond, has received significant investment understood to be several million pounds from a private family office, and from the principals behind another company that is active in Van Mildert's market, Advanced Rent Ltd.

Founder and sales director Mr Balshen is remaining in the business and retains a significant and the largest individual stake in Van Mildert's capital.

Directors at the company, which is based on the Camperdown Industrial Estate, said the investment will help support and accelerate its core objectives to ensure that its letting agent clients and software partners "emerge as clear industry winners in an ever changing and challenging market".

Mr Balshen said: "The foundations of Van Mildert, for example, the quality of our team, the partnerships with the industry's best software providers, the client relationships, the ingrained commitment to customer service and the flexible technology based solutions, are unparalleled in this industry.

"The work we and our software partners have done, and continue to do, provides our clients with a full, cloud-based, end-to-end tenancy progression feature so they can continue to provide a great service in a challenging and changing industry. …

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