Property finance platform Hammock completes £4m funding round

The London-based property finance platform Hammock has announced its completion of a £4.4 million ($5.5 million) funding round.

Hammock’s solution provides UK landlords with a dashboard and mobile app in which to store their property finances in one place.

Its users attain real-time access to transactions related to their rental properties, automated bookkeeping and draft property tax statements while landlords get full visibility on the performance of their buy-to-let investments, with the aim of eliminating any ‘surprises’ with their tax bills.

The company said its platform is committed to aiding landlords and their accountants in managing sweeping digital reforms.

Manoj Varsani, founder and chief executive of Hammock, commented: “This is a time of great opportunity for both landlords and their accountants. Government changes in the form of MTD for ITSA is a clear signal that the digital future is on its way.

“We are delighted to have closed this significant funding round, as we continue to grow and strengthen our position as the provider of choice for both parties.”

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