This article is from the Australian Property Journal archive
PROPTECH disruptor and Tinder-style industrial property platform uTenant has secured a major investment from JLL.
uTenant managing director and founder Matt Sampson said the company was excited to welcome JLL as its first external shareholder.
“After a number of approaches from a mix of private and public investors, we decided to move forward with JLL because we felt they were best-aligned as a strategic investor to support our growth. This strategic alliance will enable us to continue to build out our proprietary technology, expediting our mission to become the world’s largest marketplace for industrial property and warehousing; helping connect product owners, logistics providers and landlords.
“To be able to secure investment from JLL, especially during a global pandemic, ultimately validates our mission. I personally could not be happier for our team, our loyal customer base, and look forward to a bright future ahead for uTenant and JLL,” Sampson said.
uTenant is a Tinder-style technology platform that connects tenants and landlords of industrial property directly for industrial property leasing. The platform also assists product owners find the optimal Third-Party Logistics providers and overflow solutions based on their unique requirements.
JLL Australia CEO Stephen Conry said uTenant’s strong and innovative business model is a great match with JLL.
“It is a timely investment as we grow our industrial and logistics services off the back of a record year in 2020.
“We look forward to this new strategic alliance and working closely with the uTenant team to deliver warehousing solutions for clients across Australia,” said Conry.
uTenant co-founder Kyle Rogers said combining the strengths of two symmetrically aligned businesses excited him most about the collaboration with JLL.
As part of the transaction, JLL now holds a uTenant minority shareholding and board seat.
