May 7, 2019

You can never have too many serial entrepreneurs, I always say. Actually I think this is the first time I have said it (at least in print), but it seems a good thing to say anyway. Serial entrepreneurs represent the ‘virtuous circle’ in tech investment, learning from their successes – and failures – to bring the next great idea to market, inspiring (and sometimes backing) new entrepreneurs along the way. This is all by way of prelude to the news that Birmingham-based serial entrepreneurs Patrick Shuker and Jon Whitmore have recently raised £250k for their early-stage property management startup, Rent Chief. The funding round was backed by MEIF (Midlands Engine Investment Fund) Proof of Concept & Early Stage Fund and various angels. Shuker and Whitmore were the team behind mortgage services startup TrigoldCrystal, which was sold to UK-based financial services software firm, Avelo (nee 1st – The Exchange) back in 2012 after the Office for Fair Trading in effect nixed Avelo's proposed merger with Mortgage Brain, the mortgage software supplier owned by leading UK banks. Avelo was acquired for from its private equity backers LDC the following year by Australian Stock Exchange-listed, Melbourne-headquartered financial services firm Iress. Rent Chief promises lots for an early-stage company and £250k seems a very modest sum to complete the product and ‘transform’ the property investment market. But this is what being a serial entrepreneur is all about.