London-based fintech startup Payr has raised $2.1 million in seed funding to modernize the way rent payments are made across the United Kingdom’s vast rental market, estimated at $165 billion annually. The company aims to enable tenants to pay rent using credit cards, while landlords continue receiving payments through traditional bank transfers, eliminating the need for any changes to existing landlord processes.
Rent remains one of the largest monthly expenses for households, yet it is still largely paid through conventional bank transfers. While consumers today routinely use cards for everyday purchases such as groceries, travel, and utilities, rent payments have remained tied to traditional banking systems. Payr’s technology seeks to bridge this gap by introducing a card-based rent payment infrastructure designed specifically for the rental sector.
A Tenant-Centric Payment Model
According to Arthur Greenwood, CEO and Co-Founder of Payr, the rental payment experience has seen very little innovation over the past few decades despite significant changes in how people manage their finances.
Greenwood noted that consumers can now pay for almost everything using credit cards, yet rent — often the largest recurring expense — has remained an exception. Payr’s platform allows tenants to use their existing credit cards to pay rent, giving them access to payment flexibility, reward points, and improved cash flow management.
At the same time, landlords receive rent through standard bank transfers exactly as they always have. The company’s one-sided payment system ensures that landlords or property managers do not need to sign up, install software, or alter their payment workflows.
Solving a Structural Challenge in Rent Payments
One of the biggest challenges in modernizing rental payments lies in aligning the interests of tenants and landlords.
Tenants increasingly expect financial flexibility, global payment access, and reward benefits. However, landlords and property managers often resist adopting new payment technologies due to card processing fees, compliance requirements, and operational complexity.
Payr’s model addresses this structural friction by allowing tenants to pay with cards without requiring landlords to adopt new infrastructure or incur additional administrative burdens.
Strong Investor Backing
The seed funding round was led by Ingenii Capital, with participation from Haatch, Velocity Capital, and the British Business Bank, along with several strategic angel investors.
Michael Boocher, Managing Partner at Ingenii Capital, highlighted the scale of the opportunity in the UK’s rental economy and expressed confidence in the founding team’s vision and execution.
He noted that rent payments represent a massive and largely untapped market for innovation, making Payr’s infrastructure-driven approach particularly compelling.
Expanding the Rental Payments Ecosystem
Payr plans to use the newly raised capital to enhance its payment infrastructure, expand product integrations, and build partnerships within the residential property ecosystem.
Looking ahead, the company aims to position itself not merely as a payment tool but as a foundational infrastructure layer for rental transactions.
If successful, Payr’s model could significantly reshape how rent is paid in the UK by bringing one of the largest recurring household expenses into the modern card-based payments ecosystem
