Vilnius-based crowdfunding rental property investment platform InRento said it has raised 530,000 euros investment round for expansion to new markets.
The first destination is Spain, where they will open retail investors a possibility to invest in prime touristic rentals along the Mediterranean Coast and mountains of Iberia.
“During the last 12 months, we have grown 25 times in terms of revenue. Just a year ago, there were only 4 people to manage all the company’s activities. In less than a year, we expanded our team to 18,” founder and CEO Gustas Germanavičius, said in a statement.
InRento lets you invest starting from 500 euros into prime European rental assets. It says it is the first platform of this kind that is regulated and licensed. Unlike other similar European services, InRento investors’ earnings combine rental yield and capital growth when the property is sold at a higher price.
The current funding round was led by Vilnius-based Business Angel Fund, together with traders and executives of investment banks.