Lithuanian Crowdfunding Startup Merges With Europe’s Largest Real Estate Aggregatorby Company Announcement March 16, 2022
Lithuanian start-up InRento has merged with EvoEstate, the largest real estate aggregator in Europe, and has become the largest licensed buy to let crowdfunding platform in Europe further operating under the name of InRento.
According to Gustas Germanavičius, founder and CEO of InRento, after this merger the company will be able to implement its vision faster – to offer more larger-scale rental projects in Europe and attract a bigger number of investors worldwide.
“Our growth strategy is based not only on expanding InRento as a platform, but also on acquiring or merging with other companies. This helps us move forward faster. The decision to merge with EvoEstate is one of the strategic steps taken in order to offer existing and potential investors larger projects, gain a foothold in the local market and ensure internationalization. It was not difficult to make this decision, because we believe that it will help to better meet the interests and expectations of our investors,”
says G. Germanavičius.
InRento is the first licensed buy to let crowdfunding platform in the EU launched at the end of 2020. With InRento investors can get a return not only from the rental interest but also from the potential capital growth after selling the real estate project at a higher price.
Until March 2022 EvoEstate acted as a real estate crowdfunding aggregator, listing selected projects from other European platforms in one place. In 2020, at the Techchill Conference in Riga, EvoEstate was recognized as the No. 1 fintech company in the Baltics. Audrius Višniauskas, CEO of EvoEstate, notes that the merger will accelerate the implementation of the company’s goals.
“Since the launch of EvoEstate, one of our main tasks has been to simplify the real estate investment processes using modern technology. I have no doubt that by joining forces with InRento, we will be able to promote Lithuania’s name in the field of proptech and develop measures that would make investing in real estate even more convenient,”
says A. Višniauskas.
For some time after the merger, the EvoEstate platform will continue to serve existing investors, who will have the opportunity to invest in rental projects offered by InRento. In the long run, the aggregator platform will be integrated into InRento completely.
EvoEstate, together with InRento, has funded projects worth more than 13 million euros. Their investor base unites over 12 000 investors from various countries.
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