A bevy of international venture funds and business angels from eleven countries have just invested $2.8 million in Rentberry, a San Francisco-headquartered startup with Ukrainian roots.
The transaction, which was announced on Oct. 5 by the startup, follows last year’s $1.2 million seed round, bringing the total capital amount raised so far by the startup to $4 million.
Led by Zing Capital, the round also included such investors as 808 Ventures, Beechwood Ventures and JadeValue, as well as top executives from Nokia Technologies, Nelson Brothers Property Management, Hopewell Development and Harvard Business School Alumni Angels.
Rentberry will use the money to propel its international expansion and develop new features, including its proprietary scoring system and advanced apartment search algorithms powered by blockchain and artificial intelligence (AI).
Rentberry claims to be pioneering the online long-term rental industry in the US with its platform that automates all standard rental tasks and streamlines rental application process.
The company claims to “save time and energy for tenants and landlords, and ultimately facilitate the property rental on mutually beneficial terms” in over 3,600 cities in the US.
After completing its coverage of the US market this past April, Rentberry was approached by real estate investment companies from other countries, including New Zealand, Australia, Canada and the UK to discuss partnership, franchise and acquisition opportunities, said Alex Lubinsky, the co-founder and CEO of Rentberry.
The startup was founded in 2015 by Ukrainians Lubinsky, Lily Ostapchuk and Arsen Kostenko.
In addition to its headquarters in California, Rentberry has an office in Kyiv (Kiev). The Ukrainian team is responsible for engineering, design and business development, Lubinsky told Ukraine Digital News.