Hammock is a UK FinTech that offers landlords a dashboard and mobile app to centralize property finances, with real-time transaction access, automated bookkeeping, and draft property tax statements. The product aims to replace spreadsheets and help landlords and their accountants save time and money. Hammock positions itself to help UK landlords comply with Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) and other digital reforms. The company emphasizes bespoke banking, bookkeeping, and property tax reporting tailored to buy-to-let investors. Founder and CEO Manoj Varsani MBE leads the business as it pursues growth across the property sector. The company announced a Series A funding round to support continued expansion. Hammock plugs into landlords’ bank accounts via open banking to automatically monitor rent collection, track payments and expenses, and provide live analytical reporting on each rental property. The product surfaces real-time notifications, transaction reconciliation and profit-and-loss views to save landlords time and simplify tax preparation. The company serves professional landlords, part-time landlords, letting agents, property managers, build-to-rent companies and accountants. Hammock has onboarded more than 1,700 managed properties and is tracking over £7 million in rent on its platform. Customers pay a monthly subscription based on the number of properties managed, with the vast majority paying £9.99 per month. Hammock was incubated within Founders Factory Studio and is preparing to launch an FCA-regulated current account for landlords to natively integrate its functionalities and enable future financial services.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2022