RentberryThe San Francisco-based real estate startup offers its users a transparent and automated rental experience. The company aims to streamline the relationship between tenants and landlords by eliminating the need for third parties such as real estate agents or brokers. currently, Rentberry is running its RegA+ fundraising campaign.The offering closes on October 28. The maximum amount of the grant is 12.4 million dollars, the value of the company is 25 million dollars.
While the investments will be used to support the company’s growth and future projects, a portion of the funds raised will be earmarked for the development of the concept of flexible living. The idea behind it came to light based on the macro trends that have been seen and recognized in the rental market since 2020.
Flexible living project
The main idea behind Flexible Living is to rent fully furnished properties for three to twelve months only on the Rentberry platform. This solution is expected to give tenants more flexibility in mid-term rentals in prime locations without a security deposit.
Oleksiy Lubinsky, CEO of RentBerry, believes success lies in targeting millennials, the largest generation in American history at 82 million people (and 1.8 billion millennials worldwide). The company will see Great potential for medium term rental For this macro group, as well as several selected target groups such as digital nomads, exchange students and rental professionals during long work trips.
Inspired by the shift to remote work several years ago, the trend has become more pronounced since the pandemic began. Rentberry executives believe that this is the right time to address the problem, and the company seeks to fill the gap regarding the limited solutions in this market with the concept of flexible living.
Some of the largest companies operating in the short-term rental sector, such as Airbnb and Booking.com, have noticed an increase in demand for long-term rentals. For some time they have been trying to expand their scope and include properties that can be rented for at least two months. However, these companies face problems because they are not designed to meet the unique challenges of mid-term rentals. Some examples could be the ability to easily sign rental agreements or the lack of essential services equivalent to daily hotel rates.
“Currently, there is no perfect product on the market to meet the needs of renters who need mid-term rentals. Likewise, no platform provides a comprehensive system for landlords to manage their mid-term rental properties,” says Lubinski. And Rentberry has a bold goal to change that.
Strong investor support
Many top investors were interested in backing the company, due to its experienced management team, target market and the solution that Rentberry brings to the industry. such as Trevor BondBoard member and co-chair of Harvard Business School Alumni Angels, “Rentberry’s platform is very unique, it’s a great user experience that helps both renters and landlords, and I think it has a very promising future.”
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The company has raised over $13 million in previous rounds from venture capital funds from Zing Capital, Beachwood Ventures, 808 Ventures and angel investors from Google, McKinsey & Company and CBRE.
Since 2021, Rentberry has been running a RegA+ investment campaign on the StarEngine platform. Currently, the company has accumulated more than 10.6 million dollars in investments and has attracted the attention of more than 6,000 investors. Rentberry already plans to raise $12.4 million The current campaign ends on October 28. The minimum investment is $300, and they offer a 30% equity bonus if you invest $10,000.
About Rentberry
The company operates in the rental sector, which has the highest market share in the real estate industry and has the potential to grow stronger year on year. In the US, 44 million properties are occupied by renters who spend $694 billion a year in rent.
Rentberry currently offers over 5 million rental properties in over 50 countries and has over 1 million monthly active users worldwide. He has been featured in media such as Forbes, Inman, Entrepreneur, WSJ and Business.com.
According to Oleksiy Lubinsky, CEO of the company, “RentBerry has great potential, and we believe that our product can make a difference in the international long-term and medium-term rental market. The upcoming investments will help us to further develop the product. As well as to accelerate the development of new initiatives.”
About the Rentberry RegA+ offer
- Official campaign page: https://startengine.com/rentberry
- High Availability: 12,400,000 dollars
- Price: 25,000,000 dollars
- Price per share: 0.87 dollars
- Minimum investment: 300 dollars
- Who can participate: no one.
Legal disclaimer
A description of the offering regarding this offering is provided in Sec. Seken qualifies for that offering statement, which means the company can sell the securities described in the offering statement. This does not mean that Sec has approved, endorsed or passed on the accuracy or completeness of the information contained in the Offer Statement. You should read the offering circular before making any investment. You can find a copy of the offering document as part of the offering statement. over here.
