Rently, a Singapore-based proptech platform, has successfully raised $3m in a Pre-Series A funding round led by impact investor Orange Bloom. The investment aims to revolutionise the Asian rental market by offering deposit-free rentals and ensuring landlords receive timely payments. The funding round, which also saw participation from Hustle Fund, Woh Hup, Feedback Ventures, and 5i Ventures, values Rently at $43m.
Founded in 2022, Rently is expanding its footprint in the UAE and plans to enter Hong Kong this year. The company is addressing the $250b Asian long-term rental market, which still heavily relies on security deposits and manual processes. Rently’s platform offers innovative solutions such as “zero deposits, zero friction” for tenants and guaranteed income for landlords through Rently Pay.
Nikesh Kshirsagar, co-founder of Orange Bloom, praised Rently’s approach, stating, “Rently isn’t just another tech startup; it has a deep understanding of future lifestyle trends.” The investment will help Rently scale its operations, particularly Rently Pay, and support its entry into new markets. Dominic Schacher, co-founder of Rently, expressed enthusiasm for the partnership, noting that Orange Bloom’s expertise will be crucial for their growth.
Existing investor 5i Ventures also reaffirmed its support, with general partner Dieter Schlosser highlighting the oversubscription of the funding round as evidence of Rently’s promising trajectory. The collaboration with Orange Bloom underscores the potential of impact-driven investments to drive systemic change in traditional sectors, aligning with Orange Bloom’s commitment to sustainable business models.
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