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Monday, September 26, 2022

Estonian proptech secures additional investment to automate rental property management

Tallinn-based startup Bidrento collects €800K in a follow-up funding round from all existing investors including Timo Rein, the co-founder and former CEO of Pipedrive, Peep Vain, the first investor of Pipedrive. The round also attracted new investors including several people from Bolt and investors from Switzerland and the real estate sector. The startup provides all-in-one tools for managing commercial real estate, built-to-rent, co-living, student housing, and mix rental portfolios. The funding will help the company accelerate the expansion and preparations for the next bigger round. Bidrento is also planning to hire new talents to join their marketing and software development teams.

“Rental property management is truly a field of multi-millions tasks, where there are many different and repetitive tasks on a daily basis. Even with the use of various programs combined with Excel, landlords and property managers still struggle to automate their manual work, which accounts for up to 70% of their daily tasks. This, in turn, becomes a bottleneck in the growth of the real estate portfolio, which affects ROI and tenant satisfaction,” said Taavo Annus, CEO and co-founder of Bidrento.

Bidrento was founded by Natalja Napsep and Taavo Annus with the aim of integrating all rental property and tenant management actions into one multi-tasking platform. By automating and facilitating various activities, such as communication with tenants, drafting and signing contracts, conducting tenant background checks, managing day-to-day problems, and sending out rent, utility invoices, and reminders, the platform allows landlords and property managers to spend less time on manual paperwork and focus on growing their business.

Bidrento

“Our product speaks to rental property investors and managers, and we are happy to contribute to their growth,” Taavo Annus said. “In a short time, Bidrento has become the most preferred built-to-rent and portfolio management software in Baltics, and now is the time to move further to other markets.” 

Followed by a strong position in the Baltic market, the company plans to expand across Europe, and for this, it is planned to open larger financing round in the near future.

“A lot has already been done, but this is only the beginning of Bidrento’s journey, and in order to accelerate Bidrento’s growth in new markets, we are planning to open a new financing round soon.” said Annus.

Click to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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