Rentberry, which claims to be the first international home rental platform with complete automation, has raised $5,378,564 from 2,974 investors via StartEngine.
Rentberry is described as a fully operational “long-term” rental platform that leverages technology to “ensure a seamless rental experience – offering tenants the ability to save millions in rental deposits.”
The firm reports a $25M valuation, a $0.87 share price, $300.15 Min. Investment, Common shares offered, Equity (offering type), max offering is $12.4M (Reg A+).
This offering is also “eligible for the StartEngine Owner’s 10% Bonus,” the announcement confirmed. This Reg A+ offering is “made available through StartEngine Primary, LLC.”
This investment is considered to be “speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.”
According to the firm, some reasons to invest are that the team has already “raised $13M+ from VC funds and high profile investors.” There’s a “$7B market opportunity. 1M monthly active users. 50+ partnerships.” All investors will “receive exclusive perks, up to 20% bonus equity and 30% rent discount,” the firm claims.
Rentberry further noted that they have acquired capital in previous rounds from Zing Capital, 808 Ventures, Beechwood Ventures, and various angel investors from Google, McKinsey & Company, CBRE, Harvard Business School Alumni Angels and others.
The company aims to provide a fully digital rental experience.
They’ve noted:
“Despite so many other industries having been successfully disrupted in recent years (retail, social media, transportation), the home rental space lacks comparable innovation. The process of long-term rentals still results in frustration and lost time for both the homeowners and tenants. There has not yet been a technological disruption significant enough to usher in a new – and better – way to rent.”
At Rentberry, they plan to change that.
As explained in the update, Rentberry is the first global home rental platform that “makes the long-term rental process transparent and safe – offering a contactless rental experience, and helping properties realize their true market price.”
Their patented technology “allows tenants to submit custom offers and potentially save $87 billion on move-in costs that are currently blocked as rental security deposits.”
According to Rentberry research, most listings still “come in the form of simple, online classified ads – providing limited rental experience, and essentially no value in terms of the application process or day-to-day rental management.” Additionally, tenants “freeze billions of dollars on rental deposits every time they rent.” The company also mentioned that there is “no internationally recognized insurance or savings that could be applied to the quality tenants.”
In order to provide a viable solution, Rentberry “streamlines the entire long-term rental process, eliminating the need for a middleman, such as agents and brokers.”
The platform offers landlords and tenants “a contact-free, transparent and automated means of renting properties.” They also help “unfreeze millions of dollars tied up rental security deposits.”
According to Rentberry’s research:
“Home renting has become an economic and lifestyle choice for 41% of Americans, 56% of the Swiss, and 40% of Germans, to name just a few countries. Currently, there are over 641 million rental units worldwide and around 2.3 billion people living in long-term rentals.”
The team believes that the market “is massive, and only getting bigger.”
The firm also noted that they are “proud of the fact that so many prominent individuals from the real estate, legal, and finance sectors shared our vision of the future of the home rental industry – entrusting Rentberry with more than $13M, which is now fueling our growth.”
In 2020 alone, they claim to have reached:
- 4M users
- 11M properties
- 87K cities
As noted in the update, Rentberry “developed technology that disrupts the residential and senior housing rental markets.”
Rentberry platform, the company’s main product, is “a home rental solution designed to make the rental process less costly, more convenient, and secure,” the firm explained.
Happy Seniors platform, which is 100% owned by the company, “designed to help making the lives of millions of senior people more social and engaging, as well as keep them connected to their loved ones,” the firm added.
In 2021, Rentberry will “establish a new trend that will allow people to live and work from home at various locations in what we believe will be a much cost-efficient way than renting Airbnb/hotel and without entering into the long term contracts and freezing thousands in security deposits.”
This new trend will be called “Flexible Living.”
There are 82M millennials in the US alone, and 1.8B Worldwide – they are the biggest generation in US history.” COVID-19 will have “a lasting impact on the work environment – allowing a large number of millennials to work from home, and giving them the freedom to travel and work from various locations.”
The Company plans to “acquire properties throughout the United States, Europe, and Asia and onboard homeowners to serve the mid-term rental space.”
The properties will “have digital locks, will be managed without agents and brokers, and will be exclusively rented via Rentberry platform.”
While sharing more details on their business model, the firm noted that they have a “freemium Revenue Model.” They’ve estimated that there’s a $7 billion yearly market opportunity in the US alone. Additional revenue includes: “enterprise clients, sale of insurance products and leads to moving companies, as well as, revenue from the Flexible Living business model and Happy Seniors platform.”
Rentberry further claims that they have “a solid track record that goes beyond a vision and a roadmap.” Their product has “already proven to be a successful business with 4M users in 2020 and more than 11M processed properties,” the firm noted.
They also mentioned that Rentberry is “the only platform that offers full automation and enables to rent safely during COVID-19 times with contactless services, which are being preferred by tenants and landlords around the globe.”
The team added that they have patented their technology and “filed 46 trademarks to secure our intellectual property and stay ahead of the competition.”
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