By Rachael Green, Benzinga San Francisco, California --News Direct-- Rentberry A new app catering to digital nomads is in...
Problem
The Home Rental Market Needs Innovation
Most property listings still appear as basic online classified ads, providing a limited rental experience and offering virtually no assistance in terms of the application process or routine rental tasks.
Additionally, with each rental agreement, tenants lock billions of dollars in rental deposits. Currently, there's no internationally recognized insurance or savings program available to benefit reliable, quality tenants.
Solution
Renting Done Right. Finally!
Despite many other industries having been successfully disrupted in recent years (such as retail, social media, and transportation), the home rental space lacks comparable innovation. The process of long-term rentals still causes frustration and wasted time for both homeowners and tenants. So far, there has not yet been a technological disruption significant enough to usher in a new – and better – way to rent.
Here at Rentberry, we aim to change that! Rentberry is the first global home rental platform that makes the long-term rental process transparent and safe, offering an all-in-one rental ecosystem and helping properties realize their true market price.
Product
Fully Digital Rental Experience
Despite many other industries having been successfully disrupted in recent years (such as retail, social media, and transportation), the home rental space lacks comparable innovation. The process of long-term rentals still causes frustration and wasted time for both homeowners and tenants. So far, there has not yet been a technological disruption significant enough to usher in a new – and better – way to rent.
Here at Rentberry, we aim to change that! Rentberry is the first global home rental platform that makes the long-term rental process transparent and safe, offering an all-in-one rental ecosystem and helping properties realize their true market price.
Traction
Solid Traction
We are proud of the fact that many prominent individuals from the real estate, legal, and finance sectors have shared our vision for the future of the home rental industry, entrusting Rentberry with over $25 million, which is now fueling our growth.
In 2022 alone, we achieved:
- 9 million customers
- 39 million properties
- 137,000 locations
- 191% revenue growth
More than 60 established partnerships!
Rentberry in the News
Customers
Customers Around the World Love Rentberry
In 2022, Rentberry had more than 2 million monthly active users (MAU) from over 50 countries. The top five locations included New York, Los Angeles, London, Berlin, and Sydney. During the first quarter of 2023, we continue to experience phenomenal user growth of 162% quarter-over-quarter.
Business model
$7 Billion Yearly Market Opportunity in the US Alone!
Rentberry utilizes the 'Freemium' business model, which allows for several tasks to be performed free of charge. The Rentberry platform has a great variety of monetization channels that generate revenue from landlords, tenants, agents, and enterprise clients. In 2022, the company experienced a 191% year-over-year revenue growth. In 2023, after the acquisition, we expect the yearly revenue to exceed $10 million!
Additional revenue sources include the sale of insurance products, leads to moving companies and local businesses, integration with third-party service providers (such as plumbers and handymen), as well as revenue generation from the Happy Seniors platform.
Market
Renting is the New Buying
Home renting has become an economic and lifestyle choice for 41% of Americans, 56% of the Swiss, and 40% of Germans, to name just a few countries. Currently, there are over 641 million rental units worldwide, with around 2.3 billion people living in long-term rentals.
The market is massive and is only getting bigger!
Competition
Unique AI-Driven Tools for Tenants and Landlords
Vision and strategy
Rentberry Umbrella
Rentberry has developed technology that disrupts the residential and senior housing rental markets:
- The Rentberry platform, the company's main product, is a home rental solution designed to make the rental process less costly, more convenient, and secure
- The Happy Seniors platform, which is 100% owned by the company, is designed to help make the lives of millions of senior individuals more social and engaging while keeping them connected to their loved ones
- Flexible Living is designed to allow millennials to work and travel from various locations
The Future is Here: Flexible Living
Rentberry establishes a new trend that allows people to live at various locations for durations of 3 to 12 months. We believe this will be a much more cost-efficient way than renting Airbnb/hotels, without entering into long-term contracts and freezing thousands in security deposits. This new trend is called 'Flexible Living'.
There are 82 million millennials in the US alone and 1.8 billion worldwide. They are the biggest generation in US history.
The company plans to onboard homeowners throughout the United States, Europe, and Asia to serve the mid-term rental space. The properties will have digital locks, be managed without agents and brokers, and will be exclusively rented via the Rentberry platform.
Impact
Recognized by the Industry and Y Combinator
Rentberry has already won numerous awards for its fully patented novel technology and best user experience. We were also invited to Y Combinator!
Funding
We've Already Raised $25M+
Rentberry has already successfully raised more than $25 million in previous rounds from numerous VC funds, including Zing Capital, 808 Ventures, Beechwood Ventures, and high-profile angel investors from Google, McKinsey & Company, CBRE, and others. Big names trust us!
We have also conducted successful crowdfunding campaigns on the WeFunder and StartEngine platforms, raising a total of $15 million from over 9,000 investors.
Investor Testimonials
Gary Macbeth: Managing Partner (808 Ventures)
Trevor Bond: Co-Chair, Screening Committee (Harvard Business School Alumni Angels of Greater New York)
Steve Burton: Managing Partner (Beechwood Ventures)