Singapore-based fintech startup aims to enable deposit-free rentals to streamline the entire property rental process, paving the way for a safer and more efficient experience.
SINGAPORE, Jan. 16, 2024 /PRNewswire/ — Rently, a Singapore based fintech startup with a mission to redefine the property industry, officially announces its launch in Singapore. Currently in the seed stage and planning Series A funding in Q1 2024, Rently’s key innovation lies in the convenience of its deposit-free rental allowing users to rent a home with zero upfront cost, removing the financial burden of security deposits. By handling a tenant’s rental deposits on their behalf, Rently not only reduces financial barriers for tenants but also streamlines the rental process, making it more accessible and convenient to the wider community, the first of its kind in Asia Pacific.
Founded by five seasoned industry professionals; Dominic Schacher, Founder, Tarik Stafford, CPO, Siebren Kamphorst, COO, Emeric Martin, Head of Design, and Turan Kutlay Kunbi, CTO, Rently is envisioned as a platform that helps alleviate the financial burden of renters as well as safeguard users against potential rental scams.
A one stop platform transforming the future of property management
Blending finance and property tech, Rently transforms property management in Singapore by making renting simpler and faster, using technology to streamline everything from listing and tenant acquisition to contract negotiations and support. By consolidating these critical elements into a single, user-friendly platform, Rently not only simplifies the complexities of property management but also sets a new standard for speed, convenience, and efficiency in the dynamic landscape of the Singaporean rental market.
“Our goal is to make renting property hassle-free by creating the first-ever seamless end-to-end property platform. This platform covers everything from searching for a place, moving in with automatic insurance coverage, to paying your deposit and rent—all in one place. Our aim is not only to simplify the process but also to enhance safety. By leveraging Singpass, we ensure that only verified users and properties are allowed onto our platform. This approach helps eliminate the stress associated with handing over deposits to unknown individuals, providing assurance that the rental transaction is legitimate.” Said Dominic Schacher, Founder of Rently.
Guarding against rental scams
Rental scams have steadily grown in number to now become an alarming concern for those looking to rent in Singapore. Marked by an alarmingly sharp increase in home rental scams facilitated by online platforms, seeing an increase of more than 400% from 192 cases in 2021 to 979 cases in 2022, according to Singapore’s Ministry of Home Affairs and Ministry of Social and Family Development
To address this issue directly, Rently actively prioritises safeguarding the rental process, formally implementing robust measures to protect against scams. Through a seamless integration with SingPass, Singapore’s official national digital ID, Rently enhances its security, ensuring the authenticity of users on its platform.
The property management company employs a stringent verification process for landlords, offering an additional layer of protection against potential scams through reliable credit and background checks, diligent verification of financial information, and thorough tenant screening. By prioritising trust and transparency, Rently’s aim is to set a new standard for secure and reliable property transactions in the Singaporean rental market.
Siebren Kamphorst, COO & Co-Founder of Rently, explains the company’s approach to safety, “Setting out with the aim of reshaping the way tenancy agreements and landlord-tenant disputes are handled, we wanted to provide a property management platform that uses technology to protect our clients with the highest level of security, making property transactions as seamless as possible.”
Bringing Rently to greater heights
Backed by Aument Capital Partners, a multi-family office that caters specifically to the needs of serial entrepreneurs. Rently is currently in the seed stage and will execute a Series A funding in Q1 2024 to scale its operations, grow its footprint in the Singaporean rental market, and expand to other geographies.
As part of its push for greater strategic leadership, the company proudly announces the appointment of experienced entrepreneur and investor Dieter Schlosser to its Board of Directors in January 2024. Dieter previously held the position of CEO of SoftwareOne, building it to a billion CHF global software company and leading the company’s IPO on the Swiss Stock exchange. Through his investment vehicles 5I Ventures and Rozario Capital Management, he is currently working towards scaling out several high-growth and high-performance Tech Companies.
About Rently
Founded in 2022, Rently Pte Ltd is a Singapore based fintech startup in the property space that provides deposit-free rental solutions through their proprietary Rently Care subscription and property management services via the Rently app’s inventory feature. Rently allows the flexibility of listing any property types and aims to connect potential tenants with landlords, agents and enterprises in a secure and effective way. Rently ensures that the process of renting a property is transparent, safe, and efficient. Rently is also a subsidiary of REFIN Group Limited. For more information, visit www.rently.sg and the Rently app is available for download on Google Play and App Store.
For more information, visit www.Rently.sg.
Appendix – Co-Founder Profiles
Dominic Schacher, Founder
Dominic is an experienced finance professional with a proven record in banking and investment. He has a deep understanding of financial products and markets with proven skills in strategic planning, risk management, and leadership. As a venture investor himself, Dominic saw the numerous start-ups in the prop-tech space looking to innovate in an industry laden with unoptimized legacy workflows. Passionate about marrying technology with finance to improve antiquated processes, he then sought out to make the necessary change impact himself, through Rently. He is a CFA charter holder with a Master’s in Accounting, Finance & Management from the University of Bristol.
Tarik Stafford, Co-Founder, CPO
Driven by a passion for creating beautiful, functional, and impactful digital products, Tarik has carved his own path as a self-taught iOS developer. Over the last 5 years, he’s honed his skills in the professional sphere, transforming unique ideas into reality with a blend of creativity, technical acuity, and user-centric design. In the journey of his career, Tarik has not just written code, but also narratives of business success. A prime example of this is prop-tech start-up, Rently, which he built from the ground up. With Rently, Tarik reimagines the real estate landscape, marrying technology with property management to deliver an intuitive, seamless, and user-friendly platform.
Siebren Kamphorst, Co-Founder COO
Driven by an unwavering commitment to doing things the right way, Siebren is fuelled by the potential of technology to create a transformative impact. With a strong focus on people, he approaches every endeavour with a focused attitude, leveraging technology to forge meaningful connections and generate positive change. His goal is to propel Rently into a thriving venture that not only embraces technology but also makes a significant difference in the lives of others.
Emeric Martin, Co-founder, Head of Design
Emeric’s expertise is product design. With a background in industrial design, he has honed his skills in UI/UX design, interaction design, and branding. Emeric served as the Head of Design at the fintech company MAJORITY, where he helped establish an online bank for migrants in the USA, from scratch to over 100,000 paying active users. Emeric’s decision to join Rently stems from his belief in the transformative potential of prop-tech. Inspired by Rently’s mission to revolutionise the rental experience, he sees an opportunity to contribute his expertise in crafting a cohesive and attractive product.
Turan Kutlay Kunbi, Co-founder & CTO
Turan is a seasoned professional with a keen understanding of the latest technological advancements, notably in the realm of artificial intelligence (AI). Poised to steer organisations through the complexities of the digital age, Turan’s career has been marked by a deep commitment to the pursuit of innovation and technology. Earning him a track record of successfully transforming technical visions into tangible business outcomes. Additionally, Turan is able to strategically leverage AI and machine learning for operational optimisation and innovative business strategies. His adept integration of emerging tech trends reflects a balanced approach, prioritising both technical feasibility and business viability, ensuring that technology acts as a catalyst for growth and efficiency.
Dieter Schlosser, Board Member
Dieter worked his way up as an apprentice in Daimler-Benz AG as an apprentice in 1982 to General Manager before embarking on his role as Global CIO, Vice President IT of DKSH in 2005. In 2009, he was the VP of Operations (Group IM) for BHP Billiton and served as Global COO and Member of the Executive Board from 2012 to 2018 before being appointed as Chief Executive Officer of SoftwareOne. He currently works to help scale high-growth, high-performance Tech Companies through his investment vehicles – 5I Ventures and Rozario Capital Management and is also an Investor and Chairman of the Board of @Web Inclusion GmbH.
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