Rently, a Singapore-based fintech startup with a mission to redefine the real estate industry, has officially announced its launch in Singapore.
Rentry said in a statement on Tuesday that the company is currently in the seed stage and will raise Series A funding in Q1 2024 to expand its business, expand its footprint in the Singapore rental market, and expand into other regions. He said he plans to carry out procurement.
According to a statement, Rently’s main innovation is the convenience of no-deposit rentals, allowing users to rent a home with zero upfront costs and eliminating the financial burden of deposits.
Rently said that by handling tenants’ rental deposits on their behalf, it not only reduces financial barriers for tenants, but also streamlines the rental process, making it more accessible and convenient for the broader community. This is the first of its kind in the Asia-Pacific region.
Founded by five experienced industry professionals. Founder Dominic Schacher, Chief Product Officer Tarik Stafford, Chief Operating Officer Siebren Kamphorst, Design Director Emeric Martin, and Chief Technology Officer Turan Kutlay Kunbi believe that Rently will help renters with less financial burden. We envision it as a platform that can help alleviate this. It also protects users from possible rental fraud.
Blending finance and real estate technology, Rently said it will transform property management in Singapore by using technology to streamline everything from listing and tenant acquisition to contract negotiation and support, making renting simpler and faster. .
By consolidating these key elements into a single user-friendly platform, we not only simplify the complexities of property management, but also deliver speed, convenience and efficiency in the dynamic landscape of Singapore’s rental market. It can set a new standard, Rentley said.
“Our goal is to make renting real estate hassle-free by creating the first-ever seamless end-to-end real estate platform.
“The platform covers everything in one place, from finding a room to moving in with auto-insurance to paying deposits and rent,” said Rently founder Dominic Schacher. I am.
He said the company’s goal is not only to simplify the process, but also to improve safety.
“By leveraging Singpass, only verified users and properties are allowed access to the platform.
“This approach helps eliminate the stress associated with handing over a security deposit to an unknown individual and provides assurance that the rental transaction is legal,” he added.
According to the statement, the number of rental scams has been steadily increasing and is now an alarming concern for people looking to rent in Singapore.
Singapore’s Ministry of Home Affairs and Ministry of Social and Family Development said residential rental scams facilitated by online platforms increased by more than 400 per cent, from 192 in 2021 to 979 in 2022.
To directly address this issue, Rently said it is actively prioritizing the protection of the rental process and formally introducing strong measures to protect against fraud.
Rently said its seamless integration with SingPass, Singapore’s official national digital ID, will enhance security and ensure trust for users on the platform.
The property management company employs a rigorous verification process for landlords, providing an additional layer of protection against potential fraud through reliable credit and background checks, careful verification of financial information, and thorough tenant screening. Please note that
Rently’s aim is to establish a new standard for safe and reliable property transactions in Singapore’s rental market by prioritizing trust and transparency.
“With the aim of reshaping the way tenancy agreements and landlord-tenant disputes are handled, we use technology to protect our clients with the highest level of security and to make real estate transactions as seamless as possible. We wanted to provide a platform,” said Siebren Kamphorst, Chief Operating Officer and Co-Founder of Rently.
Founded in 2022, Rently is a Singapore-based real estate fintech startup offering deposit-free rental solutions through its unique Rently Care subscription and property management services through the Rently app’s inventory functionality doing.
The company offers the flexibility to list all types of properties and aims to connect potential tenants with landlords, agents and businesses in a safe and effective way.
It also ensures that the process of renting a property is transparent, secure and efficient. Rently is also a subsidiary of REFIN Group Limited.
Rently is backed by Aument Capital Partners, a multifamily office that specifically caters to the needs of serial entrepreneurs.
As part of strengthening its strategic leadership, the company announced the appointment of experienced entrepreneur and investor Dieter Schlosser to its Board of Directors in January 2024.
Mr. Schlosser previously served as Chief Executive Officer of SoftwareOne, where he built the company into a CHF 1 billion global software company and led its initial public offering (IPO) on the Swiss Stock Exchange.
He is currently working on scaling out several high-growth, high-performance technology companies through his investment vehicles, 5I Ventures and Rozario Capital Management.
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