Italy’s Rent2Cash closes €3M pre-Seed round
Summary
Roma-based Rent2Cash, Italy’s first startup offering upfront rental payments to landlords, has closed a €3M funding in its pre-seed round led by major Italian banks, institutional investors, and business angels. Paolo Gabriele, Head Of Investment Banking Financial Institution of Banca Finint, says, “We are thrilled to back Rent2Cash and to become advisors, investors and servicer of the securitisation. The investment is in line with our commitment to support new solutions in the financial market and offer our expertise to promising and innovative businesses.” “Rent2Cash platform represents a unicum in this segment, operating in an untapped sector with huge potential for growth. The company manages rent collection, offers dedicated client support, and delivers a formal liquidity proposal within 10 days. Founders of Rent2Cash, Gianluca Fioranelli, Yilang Chen and Marco Grassi, say, “This funding round is a stamp of credibility for our business model and validates our vision and execution to date.” “The funds will fuel our product development efforts, accelerate the go-to-market timeline for our commercial real estate products in the coming weeks, and sustain our growth and hiring ambitions.” “The idea behind our project is to redefine the perceived value of a building by transforming a rental contract into immediate liquidity for the owners in a market that is estimated at over €30B a year in Italy alone and $2.5T worldwide.” Founded in 2014, the Gruppo Banca Finint, originating from the Gruppo Finanziaria Internazionale established in 1980, is a key player in Italian corporate and investment banking.