European PropTech Startups Lette and Cortas Raise Fresh Funding for Property Management AI

Two European property technology startups have announced new funding rounds aimed at modernising residential property management.

Lette, a platform for residential property operators, has raised $6.5 million in seed funding to grow its UK operations and support planned expansion across Europe, according to Tech.eu. The round was led by Peak, with participation from Heliad, Foreword VC, Pitchdrive and Adeline, as well as angel investors including Intercom co-founder Des Traynor.

Founded by Jakub Rajek and Mohan Sai, Lette builds an AI operating system for the rental housing market in the UK and Ireland, serving build-to-rent, private rented, student accommodation and single-family housing operators. The company's platform deploys AI agents to automate tasks across the rental process, covering initial enquiries, leasing, resident support, maintenance, rent arrears and compliance. The system is designed to work alongside existing property management software rather than replace it. Mohan Sai, co-founder and CEO, said the sector needs technology tailored to the operational demands of residential property managers.