Rent2Cash, the first Italian startup that guarantees property owners to receive the rent well in advance, has entered the market. Essentially, Rent2Cash combines proptech and fintech in a “rental advance” service, converting real estate properties into immediately available financial liquidity. The startup was founded by Yilang Chen and Gianluca Fioranelli, entrepreneurs from Rome with extensive experience in the consulting sector, with the aim of revolutionizing the real estate rental sector. Rent2Cash is ready to launch its service in Italy starting from the second quarter of 2024.
It has already achieved a pre-money valuation of 4 million euros and an equity raising of approximately 700 thousand euros. Among the investors who believed in Rent2Cash’s secure and advanced rent, there is Finanza.tech, a company listed on the Milan Stock Exchange, as well as partners from leading legal and consulting firms and business angels. The startup, by managing the relationship with the tenant on behalf of the owner, protects the latter in case of insolvency and early terminations, making the rental process more efficient and risk-free. Rent2Cash has no competitors in the Italian market and represents a new frontier in the intersection of finance and the real estate sector.
The Rent2Cash model can be applied to all properties, even those that are already rented, and relieves the owner of all the obligations related to rent collection, finding a new tenant in case of terminations, or initiating property release procedures when necessary. The location and condition of the rental property, the tenant’s financial history and stability, and the specifics of the lease contract are the main variables considered in the evaluation that allows Rent2Cash to provide dynamic and personalized pricing for each future rent assignment request, ensuring that the offer is always in line with the specific needs of the landlord. Thanks to the algorithm and digitalization of all procedures, Rent2Cash can make accurate and personalized evaluations, eliminating bureaucracy and minimizing documentation submission. Users can register on the Rent2Cash portal by filling out the online request form and uploading the necessary documents directly.
From that moment, all financial obligations related to the property will be handled by Rent2Cash, which will manage the entire relationship with the tenant. The next steps for Rent2Cash, made possible by the recent funding, include the implementation of the proprietary technological platform, the refinement of the algorithm, the consolidation of the financial structure, new hires to enhance the team’s skills, and the strengthening of business and technological partnership activities with companies to develop synergies for the benefit of users. After the 700 thousand euro round, Rent2Cash is planning a new pre-seed round, with a mixed equity-debt raising, to provide the company with additional resources for acquiring the first contracts, expected to start from April.