Rently, the First Deposit-Free Rental Marketplace

Rently, the First Deposit-Free Rental Marketplace
Rently, a Singapore-based fintech startup with a mission to redefine the property industry, officially announces its launch in Singapore. Currently in the seed stage and planning Series A funding in Q1 2024, Rently's key innovation lies in the convenience of its deposit-free rental allowing users to rent a home with zero upfront cost, removing the financial burden of security deposits. By handling a tenant's rental deposits on their behalf, Rently not only reduces financial barriers for tenants but also streamlines the rental process, making it more accessible and convenient to the wider community, the first of its kind in the Asia Pacific.

Founded by five seasoned industry professionals; Dominic Schacher, Founder, Tarik Stafford, CPO, Siebren Kamphorst, COO, Emeric Martin, Head of Design, and Turan Kutlay Kunbi, CTO, Rently is envisioned as a platform that helps alleviate the financial burden of renters as well as safeguard users against potential rental scams.

Rently, the First Deposit-Free Rental Marketplace
Rently launches Singapore’s First Property Management Platform, Bringing Deposit-Free Rentals, and End-to-End Support. Singapore-based fintech startup aims to enable deposit-free rentals to streamline the entire property rental process, paving the way for a safer and more efficient experience.

A one-stop platform transforming the future of property management

Blending finance and property tech, Rently transforms property management in Singapore by making renting simpler and faster, using technology to streamline everything from listing and tenant acquisition to contract negotiations and support. By consolidating these critical elements into a single, user-friendly platform, Rently not only simplifies the complexities of property management but also sets a new standard for speed, convenience, and efficiency in the dynamic landscape of the Singaporean rental market.

"Our goal is to make renting property hassle-free by creating the first-ever seamless end-to-end property platform. This platform covers everything from searching for a place, and moving in with automatic insurance coverage, to paying your deposit and rent—all in one place. Our aim is not only to simplify the process but also to enhance safety. By leveraging Singpass, we ensure that only verified users and properties are allowed onto our platform. This approach helps eliminate the stress associated with handing over deposits to unknown individuals, providing assurance that the rental transaction is legitimate." Said Dominic Schacher, Founder of Rently.

Guarding against rental scams

Rental scams have steadily grown in number to now become an alarming concern for those looking to rent in Singapore. Marked by an alarmingly sharp increase in home rental scams facilitated by online platforms, seeing an increase of more than 400% from 192 cases in 2021 to 979 cases in 2022, according to Singapore's Ministry of Home Affairs and Ministry of Social and Family Development

To address this issue directly, Rently actively prioritizes safeguarding the rental process, formally implementing robust measures to protect against scams. Through seamless integration with SingPass, Singapore's official national digital ID, Rently enhances its security, ensuring the authenticity of users on its platform.

The property management company employs a stringent verification process for landlords, offering an additional layer of protection against potential scams through reliable credit and background checks, diligent verification of financial information, and thorough tenant screening. By prioritizing trust and transparency, Rently's aim is to set a new standard for secure and reliable property transactions in the Singaporean rental market.

Siebren Kamphorst, COO & Co-Founder of Rently, explains the company's approach to safety, "Setting out with the aim of reshaping the way tenancy agreements and landlord-tenant disputes are handled, we wanted to provide a property management platform that uses technology to protect our clients with the highest level of security, making property transactions as seamless as possible."

Bringing Rently to greater heights

Backed by Aument Capital Partners, a multi-family office that caters specifically to the needs of serial entrepreneurs. Rently is currently in the seed stage and will execute a Series A funding in Q1 2024 to scale its operations, grow its footprint in the Singaporean rental market, and expand to other geographies.

As part of its push for greater strategic leadership, the company proudly announces the appointment of experienced entrepreneur and investor Dieter Schlosser to its Board of Directors in January 2024. Dieter previously held the position of CEO of SoftwareOne, building it to a billion CHF global software company and leading the company's IPO on the Swiss Stock Exchange. Through his investment vehicles 5I Ventures and Rozario Capital Management, he is currently working towards scaling out several high-growth and high-performance Tech Companies.

About Rently

Founded in 2022, Rently Pte Ltd is a Singapore-based fintech startup in the property space that provides deposit-free rental solutions through their proprietary Rently Care subscription and property management services via the Rently app's inventory feature. Rently allows the flexibility of listing any property type and aims to connect potential tenants with landlords, agents, and enterprises securely and effectively. Rently ensures that the process of renting a property is transparent, safe, and efficient. Rently is also a subsidiary of REFIN Group Limited. For more information, visit www.rently.sg and the Rently app is available for download on Google Play and App Store.

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