Estonian proptech startup Rendin raises €1,8M

Tallinn-based proptech startup Rendin has raised €1,8M. The investment round was led by Estonian Tera Ventures with participation of 100 Rendin landlords who invested through the Estonian Startup Wise Guys fund.

Founded in 2019 by Alain Aun, Alar Mäerand, and Maiko Saluorg, Rendin is a platform that offers an insurance-backed rental contract without a deposit from the tenant. In this case, the startup provides a rental contract service for landlords to cover possible damage caused by tenants or rent arrears. To mitigate risks, the company has partnered with ERGO Insurance SE (Munich Re Group). The service is accessed via a platform that integrates with rental marketplaces and property CRMs on the back end. The rental agreement, insurance, tenant background checks, and other processes are handled digitally.

Rendin is active in Poland and Estonia. The startup plans to use the investment to prepare for raising a Series A and to expand its operations in both existing and new markets, starting in April 2024. According to the company, Rendin's landlords are invited to participate in the investment round until the end of March 2024.

In December 2023, the startup secured €85K from the Latvian co-investment fund Capitalia.

Tera Ventures is an international investment firm based in Estonia. The founding partners are Andrus Oks and Stanislav Ivanov. Tera Ventures invests €45M from its second fund in startups from the Baltics states, Denmark, Sweden, Finland, Poland, and the Czech Republic. 

Estonian Startup Wise Guys, launched in 2012, is an accelerator and venture fund that invests in early-stage startups from the Baltic, Central European, and African regions. It has invested in more than 350 startups and had 13 exits. Startup Wise Guys typically invests up to €500K per startup through multiple funds, which manage €45M and are backed by more than 150 investors. The CEO of Startup Wise Guys is Сristobal Аlonso.