Vilnius-based buy-to-let crowdfunding platform InRento is continuing its European growth. The real estate startup has expanded operations in Spain, and has also just acquired Estonian real estate marketplace, BitOfProperty. Earlier this year, the young startup successfully raised a €530k investment for new market expansion.
InRento is on a mission to provide everyone with the opportunity to diversify their real estate portfolio as easily as possible, and with as little as €500, offering a new innovation to the European real estate industry. The fresh company, founded just last year, has a goal to take the hassle out of property investment and investors earnings combine rental yield and capital growth when the property is sold at a higher price.
BitOfPropery (founded 2017) operates on a similar principle to InRento. A key difference though is that while BitOfProperty didn’t offer a crowdfunding model, it did allow for the buy and sell of fractional shares in the property, generating a passive income – similar to a stock exchange. The Estonian real estate marketplace will be seamlessly integrated into InRento’s platform, increasing rental property investment opportunities in Europe and disrupting the market.
BitOfProperty has a marketplace turnover of almost €500k. All of its financed properties have been sold profitably, and the ROI on all investments has exceeded 10%. The company is also funded by companies in Singapore and Japan and has attracted more than €450k in capital investment.
Gustas Germanavičius, Founder and CEO of InRento, said: “The company has put a lot of effort into building investors’ trust in its product. It is a well-recognized brand both in Estonia and abroad. By acquiring this platform, we will expand our services and awareness, as well as attract new investors.”
InRento has had over 250 clients invest in rental projects on the platform, funding over €2 million of investments in total. The young company want to expand and have an aim to increase the companies worth up to €100 million in 5 years.
The expansion of the real estate platform into Spain forms part of these ambitious plans. Spain has a sizeable and diverse property market, and InRento will specialize in the specific niche of short-term rental projects. Initially, their focus is on the Iberian mountain resort of La Molina and the Mediterranean region on Costa Brava in the north-east of the country.
Within this expansion, InRento is one of the first companies to implement a timeshare method of crowdfunding, a unique innovation and rising trend that is taking hold in the USA. After gaining experience and traction in Spain and Estonia, the innovative company want to expand further across Europe and continue this evolution and growth.
via https://www.AiUpNow.com
November 16, 2021 at 05:15AM by contact@bcurdy.com, Khareem Sudlow
