HomeFundingLithuanian proptech startup InRento lands pre-seed funds to grow 'buy-to-let' crowdfunding platform

Lithuanian proptech startup InRento lands pre-seed funds to grow ‘buy-to-let’ crowdfunding platform

Lithuanian startup InRento, which allows users to invest in rental properties from 500, has closed a pre-seed round of €130K from the Estonian Startup Wise Guys Venture Capital Fund and business angels.

Founded in 2020, the platform allows investors to make their money work in various real estate projects in Lithuania and uniquely earn not only rental income but also capital growth when the assets would be later sold at a higher price than purchased.

Gustas Germanavičius, the founder and CEO of InRento, says that the primary reason for the emergence of this platform was the lack of lower-risk investment alternatives in the market.

“In the past, my companies have sourced and co-financed over 300 property crowdfunding investments and, I’ve noticed that all the platforms are focused on higher-return and, at the same time, higher-risk investments, so I discovered the investor’s demand for lower-risk investments,” says the founder of the platform.

Gustas Germanavičius also adds that the funding round will contribute to even faster development of platform and entry into foreign markets. Naturally, this will offer investors even greater diversification and broader geographical reach.

“The Startup Wise Guys venture capital fund will allow our company to grow and expand even faster in other countries. Undoubtedly, this is also a great assessment for us that in just a few months of operation, we have already received the attention of the institutional investors,” said G. Germanavičius.

Dag Ainsoo, a partner at Startup Wise Guys Fund in Estonia, has commented that despite big competition in crowdfunding, InRento has chosen a completely different path with less competition.

“The investment decision was made because the InRento team has extensive experience in finance and crowdfunding. We see that the InRento team dared to challenge the market and introduce a completely different investment solution, which has not been available in the EU before. Therefore, we see a lot of interest in this activity and the potential to grow,” assured Dag Ainsoo.

InRento platform currently offers investors an annual interest from a rental yield of 6-7.5% with a minimum investment of €500.

- Advertisement -
Charlotte Tucker
Charlotte Tucker
Charlotte is the previous Editor at EU-Startups.com. She spends her time scouting the next big story, managing our contributor team, and getting excited about social impact ventures. She has previously worked as a Communications Consultant for number of European Commission funded startup projects.

Most Popular