Less than a year after our first cheque: Lette raises $6.5M seed round

Lette has raised a $6.5M seed round led by Peak, with participation from Pitchdrive, Heliad, Foreword and Adeline, alongside angels including Intercom co-founder Des Traynor. We first backed Lette at pre-seed in 2025 and are following on in this round, because the team has delivered on everything we saw in them from the start.

Founded by Mohan Sai and Jakub Rajek, Lette is building the AI operating system for institutional residential operators, with customers including Fortune 500 real estate firm JLL and large financial institutions.

Retention is now won every month

Since the Renters’ Rights Act came into force on 1 May, most private renters in England can leave with two months’ notice. Retention is no longer settled once a year at renewal, and every touchpoint now feeds directly into occupancy and income. Yet most operators still run resident service from inboxes, spreadsheets and disconnected point solutions.

Lette’s AI agents take on that work end to end. They run leasing, answer residents in seconds via app, email, WhatsApp, SMS or voice, manage repairs from first photo to completion, and flag missed rent early so teams can act before arrears build. Lette syncs with the property management systems operators already use, such as Yardi and MRI, so teams go live in weeks with nothing to migrate.

“Housing is a human industry. Letting agents and property managers come into this job to look after people, yet their days are still spent chasing leads, copying details between systems and updating spreadsheets. We started Lette to automate that repetitive work and give teams their time back, so they can pick up the phone when it matters and be there when a resident really needs them.”
Jakub Rajek, Co-founder and CPO at Lette

Proof at scale

Across more than 30,000 residential units, Lette handles over 60% of resident support and maintenance requests automatically and has cut the time to lease a home from two weeks to under four days. One leading build-to-rent operator has added more than 1,000 homes without increasing headcount.

The company has opened a London office, grown its team sixfold in a year and brought in senior industry hires. It was also named Emerging PropTech of the Year by the Business Post. The new capital will grow the UK team and fuel expansion into new European markets in 2027.

When we first invested, Mohan and Jakub stood out for combining deep technical expertise with a sharp understanding of how institutional property management actually works. A year on, they have earned the trust of some of the most demanding operators in the industry. Very few founders put together a first year like this, let alone in a market as traditional as this one. We’re excited to keep building alongside them.