HomeFundingLithuania-based InRento raises €530K for its rental property investment platform

Lithuania-based InRento raises €530K for its rental property investment platform

Vilnius-based company InRento has received a 530K investment round for new market expansion. The round was led by the Lithuanian Business Angel Fund, together with traders and executives of investment banks. The investment was facilitated via the startup’s holding company, Rikanus, which is a global leader in crowdfunding white label core technology. 

Founded in 2020, InRento is a real estate platform that operates on a crowdfunding basis. It enables people, no matter how much they earn, to invest in rental properties around Europe.

It’s no a big secret that acquiring real estate and managing property rental can be both costly and present a large time commitment, causing many to think twice before investing in the market. That said, property rental is in fact a high-performing asset class, especially in terms of today’s inflation.

To solve this problem, InRento lets users invest from €500 into prime European rental assets. It one of is the first platforms of this kind that is regulated and licensed. Unlike other similar European services, InRento investors’ earnings combine rental yield and capital growth when the property is sold at a higher price. The license is held at the bank of Lithuania.

InRento has already exceeded €1 million worth of investments and recorded zero late payments. “During the last 12 months, we have grown 25 times in terms of revenue. To manage our company work and create the foundation for future business expansion, our team hires more people. Just a year ago, there were only 4 people to manage all the company’s activities. In less than a year, we expanded our team to 18 people”, said founder and CEO Gustas Germanavičius.

 “The decision to invest into Rikanus was quite clear — the company includes three main indicators: 1) the market has indicated the necessity of such product; 2) the growth of crowdfunding platforms and volumes shows right timing; 3) a solid professional team has a clear vision on how to reach high targets, and their competence allows them to do so. Thus, this round was closed within a couple of weeks, and we are happy to be on board”, said the Head of Investments of Business Angel Fund II, Nerijus Baliūnas.

With this money, the company plans to start their international expansion. The first destination is Spain, where they possibility faciliate investment in prime touristic rentals along the Mediterranean Coast and the mountains of Iberia.

To date, Rikanus has raised more than €1 million in investments and is exploring the possibility of raising a future round using crowdfunding as an instrument.

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.

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