Rent2Cash, an Italian startup that aims to revolutionize the real estate rental sector, was launched on the market. The company effectively combines proptech and fintech in a ” rental advance ” service, converting real estate properties into immediately available financial liquidity.
Read more about Rent2Cash and find the most important financial news of the day with the Born2Invest mobile app.
Real estate properties become immediately available liquidity
Rent2Cash provides its users with immediate liquidity, anticipating up to 3 years of rent and transforming future payments into immediately available financial resources.
The startup, by completely managing the relationship with the tenant on behalf of the owner, protects the latter in the event of insolvency and early cancellations.
The Rent2Cash model can be applied to all properties, even those that are already rented today, and relieves the owner of all the tasks relating to the collection of monthly payments, but also those of finding a new tenant in the event of cancellation or the initiation of property release procedures when these become necessary.
The algorithm that analyzes 50 variables
Rent2Cash uses a proprietary algorithm called VAULT, which takes into consideration up to 50 criteria to comprehensively examine the situation of the property, the rental contract, the owner and the tenant.
Location and condition of the rented house, history and financial solidity of the tenant, specificity of the rental contract: here are the main variables that are part of the evaluation that allows Rent2Cash to provide personalized pricing for each request for the transfer of future rents, guaranteeing that the offer is always in line with the specific needs of the lessor.
Furthermore, thanks to the algorithm and the digitization of all procedures, Rent2Cash can carry out accurate and personalized assessments, reducing bureaucracy and the sending of documentation to a minimum.
The user can register on the Rent2Cash portal by filling out the request form online and directly uploading the strictly necessary documents. From that moment, all financial tasks relating to the property will be borne by Rent2Cash which will manage the entire relationship with the tenant.
The service will be active in the second quarter
Rent2Cash is ready to launch the service in Italy starting from the second quarter of 2024 but in the meantime it has already achieved a premoney valuation of 4 million euros and an equity collection of approximately 700 thousand euros.
Investors also include Finanza.tech as well as members of leading international legal and consultancy companies and business angels.
The next steps
“We are ready for the launch, scheduled for April, the goal is to close 20,000 contracts by the end of 2028 – said the founders Yilang Chen and Gianluca Fioranelli.
Rent2Cash’s next steps, made possible by the recent financing, are the implementation of the proprietary technological platform and the refinement of the algorithm to make operations increasingly fluid, accessible and integrated.
The consolidation of the financial structure to guarantee increasingly secure and effective transactions, new hires to increase the team’s skills and strengthening of business and technological partnership activities with companies with which synergies can be developed for the benefit of users”.
Rent2Cash is now planning a new pre-seed round, with a mixed equity-debt raising with the aim of providing the company with further resources for the acquisition of the first contracts, expected starting in April.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in AZIENDABANCA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [1xBet Affiliate Program]
Wanna discover one weird sports betting niche with plenty of low-hanging fruit just waiting for you to exploit? Then read...
Which Are the Most Important Fintech News from February 2024
Monite secured $6 million in a top-up financing round, bringing its total seed-stage funding to $16 million. The funds will...
Spanish Pharma Listed Companies Reduce Their Profits by 37% in 2023
Of the Spanish pharma listed companies, PharmaMar has suffered the most significant drop in profits due to generic drug competition...
How Much Does Europe Invest in Sustainability
Europe is moving rapidly towards a renewal of the regulatory framework for sustainability , with the obligation for almost 50,000...
The German Medical Cannabis Market Could Be Worth Three Billion
Currently, the German medical cannabis market serves a relatively small part of the population, with approximately 28,000 patients, or less...
Africa2 weeks ago
Global Economic Growth in 2024: Eleven African Countries in the Top 20, According to AfDB Report
Fintech4 days ago
BitForex Exchange Suddenly Disappears and No Longer Responds to Users
Mining & Energy1 week ago
Argentina Lithium & Energy Leading the Charge as Demand for Argentine Lithium Grows
Biotech2 days ago
Vytrus Biotech Plans to Triple Sales and Reach 12 Million in 2027