Singapore-based proptech firm Rently has raised US$3 million in a pre-series A funding round led by impact investor Orange Bloom.

Other participants included Hustle Fund, Woh Hup, Feedback Ventures, and 5i Ventures, bringing the company’s valuation to US$43 million.

The funding will accelerate Rently’s expansion strategy by scaling Rently Pay across its existing markets, ensuring landlords receive guaranteed and on-time rental income.

Founded in 2022, Rently provides a platform that allows tenants to rent without deposits. It also helps landlords receive guaranteed payments.

The company anticipates closing its series A funding round by the end of 2025.

🔗 Source: Rently

🧠 Food for thought

1️⃣ Addressing the deposit burden in a market where property dominates wealth

Rently’s deposit-free model tackles a significant pain point in Asian markets where real estate is the predominant store of value and wealth.

In China, approximately 70% of household wealth is tied up in real estate, creating an ecosystem where capital is heavily concentrated in property assets 1.

This cultural emphasis on property ownership is so strong that 60% of women in major Chinese cities consider property ownership a prerequisite for marriage 1.

By eliminating security deposits, Rently is effectively freeing up substantial capital for tenants in markets where liquid assets are disproportionately locked in real estate, addressing both financial and cultural frictions in the rental process.

The $250 billion Asian rental market still largely operates on traditional security deposit systems, making this innovation potentially transformative for both cash flow management and market accessibility.

2️⃣ Tech solutions emerging to support high urban mobility in property-centric economies

Rently represents a growing trend of technology platforms addressing the tension between strong property ownership cultures and increasing urban mobility needs across Asia.

The staggering 94% of Chinese millennials who plan to purchase property within five years demonstrates the persistence of ownership aspirations, even as urbanization creates more transient populations 1.