Ukrainian startup Rentberry raised $845,000 investment

Ukrainian startup Rentberry has recently raised $ 845 thousand investment from 12 international investors. It is interesting that despite the absence of a finished product, the market capitalization of Rentberry is already estimated at $3 million, Joinfo.ua reports with the reference to ITC.ua.

In this round of Rentberry’s funding, it involved the heads of such venture capital funds as Carlyle Group, Synergo Private Equity, IFC, Pegasus Capital, Abris Capital, as well as Ericsson. The exact amount of investment and the size of the share of each of the parties were not disclosed.

At present Rentberry is developing platform for long-term rental housing, which is designed to simplify the procedure for long-term rental housing in the U.S. by transferring all the required steps – view apartment, the signing of contracts and monthly payments – to online service.

One of the key features of Rentberry is the ability to check credit history of the future tenant. In the U.S. it is a mandatory procedure. In addition, the price proposals will be published directly on the platform, thus increasing the chances of getting a house at a bargain price.

Currently the project is at an early stage of development, and the money raised will go directly to the development and promotion of the platform. Launch of the service is planned on March 2016.

The company was founded by Ukrainians Oleksiy Lubynskyi, Liliya Ostapchuk and Arsen Kostenko. The team consists of 11 people: 8 employees are based in Kyiv and three in San Francisco.

Rentberry representatives claim that the high interest of investors was due to the high growth rate of the real estate market in the U.S. and the lack of full-service platforms for the long-term lease.