Home Funding Estonian startup Rendin secures €1.2 million seed funding

Estonian startup Rendin secures €1.2 million seed funding

Estonian startup Rendin secures €1.2 million seed funding
Estonian startup Rendin secures €1.2 million seed funding

The Estonian startup, Rendin that offers the safest and most convenient rental agreement platform, announced securing €1.2 million seed funding on 29th December 2020. The seed funding round was led by Tera Ventures and included participation from other venture capitals TrueSight Ventures, Wolf Capital, Startup Wise Guys and Atomico Angel platform and a few Angel investors.

The company emerged just before the pandemic occurred in Europe, but as the company says they are still able to hit all the growth targets and the COVID complications help the product prove its worth. 

The co-founder and CEO of the startup Alain Aun said, “The COVID crisis had a huge impact on the short let properties for the reason of decline in tourism but it didn’t change the dynamics for the long-term letting so much. In fact we were supposed to deal with solving the cases directly related to the panda make like renters losing their income or leaving the properties in the rush for leaving to their home country.”

With the newly gained funding the company is hoping to double their team to 16 people and launching their product in Poland. They are all really talking with local insurance companies and the largest proptech portal of the polish market. 

Rendin is building a platform for home rental agreement that eases the process of home renting and making it fast, fair and flexible. It creates a community of tenants, landlords and agents who are ready to trust each other, play fairly and value the integrity of each other. Their main goal is to reduce the risk for both tenants and property owners. With the app offered by Rendin, the parties can easily sign a digital agreement and initiate the security deposit. They offer the landlords hundred times more safety than regular deposits. 

Rendin offers distinctive features for or against landlords and tenants according to their needs. The agents get access to convenience and speed, the landlords have a safe rental agreement and the tenant can access the benefits of lower starting cost. Additionally the customers get a correct rental agreement template and advice for how to prepare for handing over the apartment. The services for the platform are free for agents and landlords and are available with the 2.5 % free or minimum €5 per month for the tenants. The 2.5 % fee includes no security deposits, rent payment, damage protection and free legal advice.

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