RentBetter raises $5 million to scale self‑management property platform

The useful part

Facebook X LinkedIn Bluesky Copy to Clipboard Copy Funding Proptech play RentBetter moves in on $5 million RentBetter bags $5m to help landlords ditch pricey agents with AI-powered self-management. CEO Jeremy Goldschmidt, previously been a management consultant for Boston Consulting Group, Capgemini, Blackdot and IBM, founded RentBetter in 2016 as a bit of a 'side hustle' while working at ANZ. The veteran proptech previously raised $3.2 million, including a $1.9m Series A in January 2022.

How it works

• RentBetter lets property owners advertise rentals, screen applicants against tenancy databases, sign leases, coordinate repairs and track income and expenses.
• "I started this business out of sheer frustration with the way the current property management model works, and felt like I was not getting value for money with an agent," he said.
• The new capital if for new hires and developing AI tools to automate tasks such as finding tenants, managing tenancy documents, tracking rent and handling compliance.
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• Goldschmidt built the first version to manage his own investment property after questioning the value of paying an agent.

What to take from it

Goldschmidt said the business is profitable and didn't need to raise, but he wanted to accelerate expansion. "Owner after owner told us the platform did more than the agent it replaced, and the money they were saving was significant," he said. RentBetter is disrupting property rental About the author Simon Thomsen Simon has been editor of Startup Daily since 2019.

Details worth keeping

Proptech play RentBetter moves in on $5 million. EVP partner Justin Lipman will join as a director. He did not disclose its valuation, revenue or growth figures.

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