Rent2Cash, the pioneering Italian startup, has successfully closed a pre-seed funding round, securing €3m.
This financial milestone was supported by key players including major Italian banking groups, institutional investors, and business angels. The round combines equity and debt, highlighting a robust backing for Rent2Cash’s innovative business model.
The investment is set to bolster the startup’s operations in Italy, which include purchasing the first rental contracts. These contracts are part of a novel approach to securitization, facilitated by Banca Finint. The firm plays a critical role, acting as an advisor, investor, and servicer, leveraging its expertise in structured finance to support Rent2Cash’s launch and growth.
At the core of Rent2Cash’s operation is its proprietary algorithm, VAULT. This technology is designed to optimize the valuation of properties and rental agreements by analyzing over 50 different criteria. This algorithm is not only a testament to Rent2Cash’s commitment to technological innovation but also underpins their service of advancing up to 3 years of rent to property owners. This service transforms traditional property rent into immediate liquidity, providing significant financial flexibility.
The funding will primarily be used to enhance this technological platform and expand the range of products offered, particularly in the commercial real estate sector. Additionally, the capital will aid in hiring 30 new staff members across strategic areas such as digital innovation, sales, and commercial operations.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global