Almost 40 people have been made redundant from innovative proptech firm Goodlord in a restructure of the business.
Headcount has been reduced by 28%, with 38 people in sales and marketing losing their jobs after a consultation.
The firm, set up by ex-Foxtons agent Richard White, puts a number of letting agency processes, such as the payment of deposits and signing of agreements, online.
White says that agents prefer to be doing deals and getting instructions, rather than sorting out paperwork.
The firm has been very successful in raising money, and has raised £10m to date.
Yesterday, a spokesperson for the firm confirmed the redundancies.
She said: “We have had great success during 2017 bringing new lettings agents on to the platform.
“However, to focus on scaling effectively and efficiently we have reduced the size of our sales and marketing team and are putting more focus on bringing out new features and automation functionality to the platform.
“Our customers will see the effects of this focus almost immediately with new features and services being released as soon as the end of the month.
“To reflect the increased emphasis on product and technology we restructured the business and following a consultation period we reduced the number of employees from 134 to 96.
“All affected employees have benefited from an extended paid notice period and have been offered as much support as possible to help them find their next big thing.
“To ensure we offer the very best platform we can, we have a number of positions open for extremely talented product and engineering staff.
“We remain focused on building a business with superior technology and outstanding customer service, and our letting agent customers will see no change in the levels of service we offer them.”
In November, venture capitalist Daniel Jones became a director of the company.
Founder Richard White’s LinkedIn profile says he is still at the company, chalking up three years and five months.
Below is how EYE’s Rayhan Rafiq Omar reported on the business back in May 2016