According to Gustas Germanavičius, founder and CEO of InRento, after this merger the company will be able to implement its vision faster – to offer more larger-scale rental projects in Europe and attract a bigger number of investors worldwide.
„Our growth strategy is based not only on expanding InRento as a platform, but also on acquiring or merging with other companies. This helps us move forward faster. The decision to merge with EvoEstate is one of the strategic steps taken in order to offer existing and potential investors larger projects, gain a foothold in the local market and ensure internationalization. It was not difficult to make this decision, because we believe that it will help to better meet the interests and expectations of our investors,“ says G. Germanavičius.
InRento is the first licensed buy to let crowdfunding platform in the EU launched at the end of 2020. With InRento investors can get a return not only from the rental interest but also from the potential capital growth after selling the real estate project at a higher price.
Until March 2022 EvoEstate acted as a real estate crowdfunding aggregator, listing selected projects from other European platforms in one place. In 2020, at the Techchill Conference in Riga, EvoEstate was recognized as the No. 1 fintech company in the Baltics. Audrius Višniauskas, CEO of EvoEstate, notes that the merger will accelerate the implementation of the company's goals.
„Since the launch of EvoEstate, one of our main tasks has been to simplify the real estate investment processes using modern technology. I have no doubt that by joining forces with InRento, we will be able to promote Lithuania's name in the field of proptech and develop measures that would make investing in real estate even more convenient,“ says A. Višniauskas.
For some time after the merger, the EvoEstate platform will continue to serve existing investors, who will have the opportunity to invest in rental projects offered by InRento. In the long run, the aggregator platform will be integrated into InRento completely.
EvoEstate, together with InRento, has funded projects worth more than 13 million euros. Their investor base unites over 12 000 investors from various countries.
About InRento:
InRento is a buy-to-let crowdfunding platform that actively contributes to innovative investment solutions. With InRento you can start investing in rental properties with as low as €500, earn monthly rental income and capital growth once the property is sold for profit.
The company connects experienced real estate project owners with investors. As a result, investors don’t have to worry about day-to-day management at all. To add, investments are secured by a 1st rank mortgage guarantee and there is a Secondary Market if there is a need to exit at any point.
It is the first platform of its kind that’s licensed in continental Europe. The company has recently expanded from the Nordics to the South of Europe, more exactly Spain, offering investors even a timeshare there – a chance to stay in properties they’ve invested in – besides other benefits.
