Wectory, a provider of rental factoring infrastructure for property professionals, has announced it has secured $100,000 in funding from investors. This capital injection marks a significant step for the company as it continues to develop its specialized technology for the UK property market.
Wectory addresses a specific need for letting agents and property management companies. These professionals manage crucial landlord relationships, possess extensive tenant data, and often have idle capital. However, they typically lack the technological framework to transform these assets into a revenue-generating financial product. Wectory builds this essential infrastructure, enabling partners to offer advanced financial services directly to their landlords.
The company provides a full infrastructure stack, including a scoring engine that assesses risk from rental history and payment patterns. Its white-label Direct Debit collection system handles mandates, scheduling, retries, and reconciliation, while automated document generation can be branded by partners. Payout verification is streamlined through Open Banking. Wectory's model ensures partners fund advances from their own capital directly to their landlords, with Wectory never holding or routing funds. The platform powers the engine, allowing partners to retain ownership of the relationship, margin, and brand. Services are accessible via PMS integration, a Partner Dashboard, or a direct API, catering to property management companies, letting agents, landlord networks, and PropTech platforms across the UK.
This funding round is poised to accelerate Wectory's strategic initiatives. The company plans to use the funds to further enhance its platform capabilities, expand its engineering team, and broaden its market reach within the UK. This investment underscores confidence in Wectory's unique approach to empowering property professionals with advanced financial tools.
Looking ahead, Wectory aims to solidify its position as a leading technology provider in the PropTech sector. The company is focused on continuous innovation and expanding its partner network, enabling more property businesses to leverage their existing assets and offer value-added financial services to their clients.
