InRento, a Vilnius-headquartered firm has completed a funding round, raising €530,000 to drive its market expansion plans.
This funding round was led by the Lithuanian Business Angel Fund. The funding effort also drew participation from traders and execs of investment banks.
This investment round was facilitated through InRento’s holding company, Rikanus, which is a world-renowned provider of crowdfunding white label core technology.
Launched in 2020, InRento is a real estate platform that operates using a crowdfunding model. Its platform makes it possible for people, regardless of their range of income, to invest in rental properties around Europe.
This service provides a simple solution to the complexity of acquiring and managing property rental, which can be pricey and time-consuming. It also encourages retail investors to buy into this highly profitable asset class that had been abandoned by many for being too complicated.
Through InRento’s platform, users can invest as low as €500 into quality European rental assets. And the firm reports that the total valuation of investments through its platform has crossed €1 million.
“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”, said founder and CEO Gustas Germanavičius.
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