Estonian property management software Bidrento raised investment
Estonian developer of rental property management software Bidrento raised investment from accelerator Morgan Stanley Inclusive Ventures Lab and existing investors.
Usually, Morgan Stanley provides companies that join a London-based program with £250K, and a New York-based program with $250K in exchange for an equity stake of 5%.
Founded in Tallinn in 2019 by Natalja Napsep and Taavo Annus, Bidrento offers a software solution for managing rental properties such as built-to-rent, student housing, co-living, commercial real estate, and self-storage types of real estate. The startup also develops sales and management software for hotels and short-term rentals.
The software allows to automize of the work of lease and property managers, such as invoicing and cost allocation, termination of a lease, and onboarding the next tenants to start a new rental process. In addition, Bidrento offers a tenant application that helps them solve the most common use challenges, such as managing utilities, invoices, rental agreements, maintenance requests, etc. The application provides tools for tracking, monitoring, and reducing carbon emissions, and energy consumption.
The company works in the Baltics and the CEE region. The clients are real estate funds, student housing companies, and municipalities. Bidrento will use the investment for further growth across Europe. In 2022 and 2021, co-founder of Estonian intelligent revenue management unicorn Pipedrive Timo Rein, former CIO for Estonia Taavi Kotka, the first investor of Pipedrive Peep Vein, business angels Urmas Purde, and Ivo Mägi backed Bidrento.
Founded in 2017, Morgan Stanley Inclusive Ventures Lab is a part of the global financial services company Morgan Stanley. The accelerator will provide selected companies with a five-month program, that includes mentorship, networking, office space for the duration of the program, and access to certain external advisors. There are 69 companies in the accelerator's portfolio. In total, they have raised $207M of additional funding after participating in the programs.
