By Rachael Green, Benzinga
San Francisco, CA –News Direct– Rentberry
A new application for digital nomads is in the works by the pioneering long-term rental startup Rentberry.
Launched in 2017, the San Francisco-based startup has raised more than $22 million in capital from investors to fund its patented long-term rental platform that digitizes the entire process, from property search to rental management .
Rentberry raises an additional $12.4 million via crowdfunding platform Start the engine. This, along with the $22 million already raised, will help fund the company’s expansion, including the development of a new flexible living concept.
Built on the existing Rentberry platform, Flexible Living will offer high-quality, fully-furnished long-term rentals in the hottest cities around the world. The concept is aimed at the growing ranks of millennials working from home and digital nomads looking to make the most of the freedom of their new flexible working hours.
Rentberry’s patented mid-term rental technology provides a seamless and streamlined rental process
The current Rentberry platform already has 24 million properties across 137,000 locations serving over 8 million users. For tenants, it offers a completely digital and seamless way to search for properties, submit inquiries, pay rent and submit maintenance requests, all in one app.
For landlords, Rentberry streamlines the end-to-end rental application, screening and management process so they can do everything from listing their properties to managing service requests in one intuitive platform.
Flexible Living will offer a mid-term user-friendly version of Rentberry’s platform
The rapidly growing population of digital nomads is overwhelmingly made up of millennials (44%) and Gen Z adults (21%). This interest seems destined to grow even more; a survey found that over 80% of millennials want to know more about the digital nomad lifestyle. These young professionals are looking for flexibility and freedom in the places they rent, but so far few rental services can offer.
Short-term rental platforms such as Airbnb inc. (NASDAQ: ABNB) or Expedia Group Inc.‘s (NASDAQ: EXPE) VRBO offers fully furnished properties that feel more like a home than a hotel room, but high daily rates make them pricey for longer stays. At the same time, long-term rental platforms like Zillow Group Inc.(NASDAQ: ZG) Trulia or Craigslist don’t offer an easy way to find mid-term furnished rentals and lack many of the digital features Rentberry offers to streamline the entire application and rental process.
To provide a solution that better meets the needs of young professionals, Rentberry is working on acquiring properties across Europe, Asia and the US – as well as onboarding owners to list their properties on the Flexible Living platform – which he can then rent exclusively. via its website on 3 to 12 month leases with no security deposit requirement. High-quality properties will be equipped with digital locks and fully furnished with millennials working from home in mind.
With this latest round of funding on StartEngine ending October 28, Rentberry hopes to have the new Flexible Living concept up and running in 2023.
Rentberry is the first closed-loop platform that makes the long-term rental process seamless and secure, provides a contactless rental experience, and helps properties realize their true market price. Its patented technology allows tenants to submit personalized offers and potentially save $87 billion in move-in costs that are currently locked in as rental security deposits.
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See the source version on newsdirect.com: https://newsdirect.com/news/long-term-rental-startup-rentberry-raises-capital-to-develop-a-flexible-living-platform-for-digital-nomads-679357122
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