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Tuesday, March 28, 2023

Lithuanian startup’s merger with European real estate aggregator

Estonian proptech startup EvoEstate is merging with InRento, the EU’s first licensed buy-to-let investment platform. After this merger, Lithuanian company InRento is planning to move faster in real estate business and capture more glances from many other investors around the world. By joining the forces, EvoEstate’s existing and prospective investors will be able to invest in InRento’s rental projects. The Tallinn-based real estate crowdfunding aggregator platform is targeting complete integration with InRento in the future while Vilnius-based company is focusing on establishing a presence in the local market and taking it to the global level eventually.

EvoEstate’s technical merger with InRento is completed

Evostate is finalizing its merger with InRento, the first regulated buy-to-let crowdfunding platform from continental Europe, and become the largest licensed buy to let crowdfunding platform in Europe further operating under the name of InRento.

According to Gustas Germanavičius, founder and CEO of InRento, after this merger, the company will be able to implement its vision faster – to offer more larger-scale rental projects in Europe and attract a bigger number of investors worldwide.

Inrento, EvoEstate, Gustas Germanavicius“Our growth strategy is based not only on expanding InRento as a platform, but also on acquiring or merging with other companies. This helps us move forward faster.

The decision to merge with EvoEstate is one of the strategic steps taken in order to offer existing and potential investors larger projects, gain a foothold in the local market and ensure internationalization.

It was not difficult to make this decision, because we believe that it will help to better meet the interests and expectations of our investors,” says G. Germanavičius.

InRento is the first licensed buy to let crowdfunding platform in the EU launched at the end of 2020. With InRento investors can get a return not only from the rental interest but also from the potential capital growth after selling the real estate project at a higher price.

Until March 2022 EvoEstate acted as a real estate crowdfunding aggregator, listing selected projects from other European platforms in one place. In 2020, at the Techchill Conference in Riga, EvoEstate was recognized as the No. 1 fintech company in the Baltics. Audrius Višniauskas, CEO of EvoEstate, notes that the merger will accelerate the implementation of the company’s goals.

InRento, EvoEstate, Audrius Visniauskas“Since the launch of EvoEstate, one of our main tasks has been to simplify the real estate investment processes using modern technology. I have no doubt that by joining forces with InRento, we will be able to promote Lithuania’s name in the field of proptech and develop measures that would make investing in real estate even more convenient,” says A. Višniauskas.

For some time after the merger, EvoEstate will continue to serve existing investors, who will have the opportunity to invest in rental projects offered by InRento. In the long run, the aggregator platform will be integrated into InRento completely.

EvoEstate, together with InRento, has funded projects worth more than 13 million euros. Their investor base unites over 12 000 investors from various countries.

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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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