Long term rental platform Rendin raises €1.2 million

Rendin , an Estonian startup offering insurance for long-term property rentals, including offering a no-deposit feature, has raised €1.2 million in seed funding led by Tera Ventures, Iron Wolf Capital, Truesight Ventures, Atomico’s Angel Programme and Startup Wise Guys.

Founded in 2019 and a team of ~10, the company is a mission to provide people with an end-to-end home renting solution that ‘significantly’ reduces unnecessary showings, paperwork, hassle, and risks in the home renting process. “We have already created the safest rental agreement in the world that replaces security deposits with up to 100x more protection. Our preventive insurance, evidence-based claim handling, and mobile-first interface have reduced the time waste in home renting by more than 50% and giving our customers peace of mind.”

Rendin has partnered with ERGO Insurance SE (Munich Re Group) to create a renting agreement service for landlords. If a tenant causes damage or ends up in debt, the property owner is covered. The agreement is handled via the startup’s app and platform that plugs into rental marketplaces and real estate CRMs on the backend to provide a fully digital experience.