Name

LettsPay

Legal name

Hanley Payments Ltd

Website

https://lettspay.co.uk

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

LettsPay is an embedded banking and automated client accounting platform for UK letting agents and property managers, providing real-time rent processing, ring-fenced FSCS-protected landlord wallets via Griffin bank, and CRM integration.

Ownership category

akta.pro rank

Product category

Property Management Client Accounting Software

SIC

Finance Services (6199)

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

Keywords

• Client accounting software
• Embedded banking platform
• Rent processing automation
• Property management payments
• Landlord wallet services

Headquarters

HQ city

Great Malvern

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Subscription - Per Property Monthly Fee: Fixed per property per month pricing. Predictable monthly operating costs for agencies with no bank charges, transaction fees, or surprise add-ons. Scales with portfolio size.
2. Optional SMS Services: SMS notifications available as optional add-on at £10 per month for payment reminders and arrears alerts.
3. Interest on Client Funds: Client funds held in individual wallets can accrue interest which can be passed to the landlord or configured for the agent depending on relevant rules and regulations being met.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

LettsPay is an embedded banking and real-time client accounting platform built for UK letting agents and property managers. It automates rent collection, reconciliation, and landlord/contractor payouts through live banking rails integrated with Griffin (an FCA-authorized bank), providing each landlord with a ring-fenced digital wallet protected individually under FSCS up to £120,000.

Product overview

LettsPay is a unified embedded banking and client accounting platform for UK letting agents, consisting of the core LettsPay platform plus multiple integrated modules. The core platform provides real-time rent processing, automated reconciliation, and individual FSCS-protected landlord digital wallets via Griffin bank. Supporting modules include CMP management (CMP Paid, Arrears Management), compliance tools (Landlord IDV Checks, AML/PEP/Sanctions verification, Making Tax Digital via Nexus), communication features (Smart Messaging, branded Landlord Statements), and financial tools (Floats, LettsPay Rewards, Non-Resident Landlords, Reporting). Integration with property management CRMs (Alto, Arthur Online, Goodlord, and others) is enabled via the LettsPrep data bridge. The platform operates 24/7/365 on UK Faster Payments with no batch delays or manual reconciliation.

Differentiator

Problem solved

Functional benefit

Products and services

• LettsPay Platform Real-time client accounting and rent processing platform for UK letting agents, providing embedded banking with individual FSCS-protected landlord wallets, automated reconciliation, and instant Faster Payments.
• LettsPrep Data bridge that pulls information from property management CRMs and prepares it for LettsPay processing, enabling seamless data flow between CRMs such as Alto and LettsPay.
• CMP Paid by LettsPay Client Money Protection benefit where LettsPay covers the CMP renewal invoice for agents, providing dual protection alongside FSCS coverage.
• Landlord IDV Checks Built-in biometric identity verification and AML/PEP/Sanctions checks performed automatically when landlords are onboarded, activating FSCS protection.
• Smart Messaging Automated tenant communication including payment reminders, rent date alerts, and branded messaging via email and SMS, available as an optional add-on at £10 per month.
• LettsPay Rewards Interest program on client funds held in landlord wallets, configurable for agent or landlord benefit based on regulatory requirements.
• Nexus MTD Portal Making Tax Digital integration via Nexus portal providing real-time financial data connection to HMRC for seamless quarterly tax submissions.

Quantifiable outcome

• 50% efficiency improvement reported by customers
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature7 records

Partnerships

16 partnerships are on record, tiered core and secondary.

• GriffincoreTechnology or IntegrationGriffin is LettsPay's banking partner - a bank and full-stack Banking-as-a-Service platform regulated by the Prudential Regulatory Authority (PRA) and Financial Conduct Authority (FCA). Griffin provides easy-to-use APIs, automated onboarding, and bank accounts for safeguarding client money. This partnership enables individual landlord wallets, FSCS protection per landlord, and real-time embedded banking integration.
• Alto SoftwarecoreTechnology or IntegrationAlto is a property management CRM with active integration through LettsPrep. Data flows from Alto to LettsPrep to LettsPay and back to Alto, enabling automated rent processing, reconciliation, and payment disbursement without disrupting agent workflows.
• Arthur OnlinesecondaryTechnology or IntegrationProperty management CRM partnership enabling integration with LettsPay platform for automated client accounting.
• GoodlordsecondaryTechnology or IntegrationProperty management platform integration documented in Goodlord help documentation for LettsPay usage.
• TecletsecondaryTechnology or IntegrationStrategic partnership with Teclet provides end-to-end automated rent management with designated landlord account wallets. Rent arrears management automated directly between bank and tenants including guarantor involvement.
• KerfufflesecondaryTechnology or IntegrationProperty management platform partnership for integrated client accounting services.
• PropertymarkcoreChannel Partner/ Reseller/ DistributorPropertymark Industry Supplier status provides accreditation for Propertymark member agencies. Includes promotional offers to Propertymark members.
• Guild Property ProfessionalssecondaryChannel Partner/ Reseller/ DistributorGuild Recognised Supplier partnership providing automated accounting tool to Guild members.
• Scottish Association of Landlords (SAL)secondaryChannel Partner/ Reseller/ DistributorSAL Recognised Supplier 2024 status for Scottish landlord association members.
• RICSsecondaryChannel Partner/ Reseller/ DistributorPartnership with Royal Institution of Chartered Surveyors providing professional standards credibility.
• Lettings HubsecondaryTechnology or IntegrationLettings Hub platform integration for client accounting services.
• Move LettingssecondaryTechnology or IntegrationMove Lettings platform integration. Customer case study demonstrating 4x portfolio growth using LettsPay.
• RentiDsecondaryTechnology or IntegrationFull integration with RentiD property management platform. RentiD identified rent payment tracking as a key administrative need for landlords and property managers, leading to this collaboration.
• NexuscoreTechnology or IntegrationNexus provides the Making Tax Digital portal integrated with LettsPay, enabling seamless submissions to HMRC and live portfolio data for landlords and accountants.
• Client Money ProtectcoreChannel Partner/ Reseller/ DistributorCMP provider partnership. LettsPay covers CMP renewal invoice for customers as part of the platform service. Dual protection through CMP and FSCS per landlord.
• Integra Property ServicessecondaryImplementation/ SI/ Consulting PartnerTraining partnership announced to help agents with money laundering compliance. Combines LettsPay's automated accounting with Integra's AML training expertise.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Flatfair: Flatfair is a UK proptech offering deposit-replacement products to letting agents and landlords. It is adjacent rather than direct, but targets the same UK lettings customer base and is increasingly active in compliance and payment adjacencies.
• CreditLadder: CreditLadder is a UK rent-reporting and tenancy fintech that helps tenants build credit through rent payments. It is adjacent to LettsPay, sharing the UK rental payments infrastructure theme and overlapping landlord/agent relationships.
• Molo: Molo is a UK digital mortgage lender that, like LettsPay, is built on Banking-as-a-Service infrastructure and targets the UK property ecosystem. It shares the embedded-finance, API-first DNA and represents an adjacent fintech building block relevant to LettsPay's roadmap.
• Canopy: Canopy is a UK rental marketplace offering tenant referencing, rent reporting, and related services to letting agents. It is an emerging player in the UK lettings fintech stack with partial overlap in rent-payment and landlord services.

Broad incumbents

• Alto: Alto is a leading UK property management CRM with LettsPrep-driven integrations into LettsPay. It competes indirectly by controlling the front-of-house workflow that LettsPay augments, and could over time add embedded banking of its own.
• Arthur Online: Arthur Online is a UK property management CRM with payment and accounting modules. It overlaps with LettsPay on client accounting and rent processing, and is both an integration partner and a competitive threat for the same letting-agent customer base.
• Goodlord: Goodlord is a UK proptech platform offering referencing, tenancy setup, and payment workflows to letting agents. While broader than LettsPay, it overlaps in payment orchestration and tenant rent collection, making it both a partner and a potential competitor.
• LetMC: LetMC is a long-established UK property management and client accounting software provider serving letting agents. It addresses the same client-money and reconciliation workflows that LettsPay automates, though with a less embedded-banking-centric model.

Direct peers

• PayProp: PayProp is the most direct competitor to LettsPay, offering automated rent collection and trust/client accounting specifically for letting agents in the UK and other markets. It targets the same SMB-to-mid-market agency segment with a similar subscription-based, real-time payment model.

Others

• Griffin: Griffin is the FCA/PRA-regulated Banking-as-a-Service platform that powers LettsPay's embedded banking, wallets, and Faster Payments. As a critical infrastructure provider and partner, Griffin is an enabler rather than a competitor, but its strategic importance to LettsPay is central.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LettsPay