Tera Ventures leads the €1.2M seed round investment to Rendin
Rendin, the Estonian start-up making long-term property rental fairer and safer for both owners and renters, has announced a seed round of €1.2M. Rendin will invest in expanding its core team in Estonia and launch the platform in Poland.
The seed round was led by Tera Ventures, a VC firm investing in early-stage global digital startups. They were joined by Iron Wolf Capital, Truesight Ventures, Atomico Angel Program and Startup Wise Guys, with a number of angel investors also participating.
Rendin is building a preventive insurance model with the goal to dramatically lower the risks in long-term home renting. In addition to a safe and modern rental process for both owners and renters, including a fully digital agreement on its app and no security deposit requirement, Rendin provides insurance for renters’ agreement breaches and offers landlords up to 100 times more safety compared to regular deposits, making Rendin the safest home rental agreement service available by far.
Stanislav Ivanov, Founding Partner at Tera Ventures: “We’re very excited about partnering with the Rendin team. They have a strong vision of how to make the life of tenants and landlords better. Their dedication to end-to-end user experience and process efficiency for all involved parties will transform the long-term apartment rental space that was until today almost fully neglected and untouched by digitalization.”
The Ellex team in Estonia who advised Tera Ventures on the investment was led by Counsel Antti Perli and included Senior Associate Hanna Pahk and Associate Merlin Liis.
Find out more here.