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Rently, a Singapore-based startup that combines finance and property tech, has launched its services in the city-state – its first market.
The company said that it is currently in the seed stage and is planning to raise a series A round in the first quarter of this year. It then aims to expand to other markets.
Founded in 2022 by Dominic Schacher, Tarik Stafford, Siebren Kamphorst, Emeric Martin, and Turan Kutlay Kunbi, Rently offers deposit-free rentals through its property management platform, allowing users to make bookings with zero upfront costs. The company, which is backed by Aument Capital Partners, explained that this is possible because it handles tenants’ rental deposits on their behalf.
The firm aims to streamline the entire property rental process, from listing and tenant acquisition to contract negotiations and support.
“This platform covers everything, from searching for a place, moving in with automatic insurance coverage, to paying your deposit and rent, all in one place,” said Schacher in a statement.
To enhance security and prevent scams, the founder said that Rently integrates Singpass, Singapore’s national digital ID, to ensure that only verified users and properties are allowed on its platform. It also implements additional security measures in the verification process for landlords such as credit and background checks.
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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