In addition to the apparent collapse of Upad at the weekend, there has been unconfirmed speculation about redundancies at a second online letting service.
Ideal Flatmate - a property platform for renters which launched in 2016 and now claims more than half a million users per month - has been crowdfunding in recent weeks. In late August it claimed to have received over £750,000 in pre-commitments in just 24 hours, ahead of the start of the public phase of its crowdfunding campaign.
However, over the weekend there was speculation about redundancies: Letting Agent Today contacted the platform and its PR representatives, asking whether they wished to deny or confirm the speculation. The company said it was not going to comment.
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