Singapore-based fintech startup Rently has officially launched, aiming to redefine the property industry with a deposit-free rental approach. Founded by industry professionals, Rently’s platform streamlines property management, making it more accessible and secure, addressing the rising concerns of rental scams in the country.

“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.”

Dominic Schacher, Founder of Rently

What you should know

• Innovation in Rental Process: Rently’s key innovation lies in deposit-free rentals, eliminating upfront costs for tenants and simplifying the rental process.
• Platform Features: The platform, founded by industry veterans, integrates SingPass for user authentication and employs a stringent verification process for landlords, prioritizing trust and transparency.
• Addressing Rental Scams: With an alarming increase in rental scams, Rently actively prioritizes safeguarding the rental process, leveraging SingPass and implementing robust measures to protect users against potential scams.
• Expansion Plans: Backed by Aument Capital Partners, Rently plans to scale its operations, execute a Series A funding in Q1 2024, and grow its footprint in the Singaporean rental market while appointing experienced entrepreneur Dieter Schlosser to its Board of Directors.

Rently addresses financial barriers, enhancing security through technology, and actively combating rental scams. The platform aims to set a new standard for efficiency and safety in the dynamic landscape of the Singaporean rental market.

“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.”

Siebren Kamphorst, COO & Co-Founder of Rently