Angels gentle towards Rentle who raise pre-seed round of 250k to help create better rental experiences
May 08, 2019
Rentle is on a mission to create better and more profitable rental experiences. Rentle has now raised 250K as part of their pre-seed investment round. The investors consist of reputable Finnish family offices and business angels Niko Fagernäs, Ali Omar, Jukka Hienonen ja Jussi Heinilä. Other early supporters also include Business Finland.
Rentle is a platform solution for recreational rental companies. It helps rental shops to streamline their business processes and enable modern digital consumer experiences to be part of the overall rental experience. The platform comprehensively takes care of the whole rental shop’s operations including inventory management, booking and reservations, rental contracts, payments, and online and offline sales channels.
“The problem in the market is that the current processes and solution to run a rental company, demand too much of manual work. Currently companies may use from 4-5 different solutions, but still, the process is far from optimal and profit margins are low. The reason is that most of these great modern services our clients use are designed for sales – and not for the renting business model”, Tuomo Laine, Co-Founder and CEO of Rentle, explains.
According to Laine, Rentle concentrates only on the rental companies and their unique needs. This means that concepts such as deposits, time-based charges, inventory circulation, etc. are all built-in into the DNA of Rentle. The first step is to digitize critical processes such as rental contracts, then automating manual tasks and finally enabling
data-driven business intelligence for the customers of Rentle. This will have a direct positive effect on sales and profitability of the rental companies as they are more able to provide experiences that fulfill the needs of modern consumers and learn from the data.
The digitalization of these processes as well as the actual rental contract has several
significant benefits for rental companies and end users. These benefits include less manual work needed per rental, less time spent in the queue for the customers, inventory optimization, digital and intelligent upselling based on customer insights, data-driven business intelligence and a better and more predictive understanding of the business, just to name a few.
Previously, Rentle has successfully piloted the solution with Laajis, SkiMac, Ylläs Y1, Lapland Safaris and a number of other forward thinking rental shops. During 2019 Rentle, continues the piloting and launches the product with the first selected group of customers. As the rental shops have more insight into their own processes as well as their customers, they’ll be able to serve the end users better and create smoother rental experiences. And as everyone in the rental industry knows – happier customers mean loyal customers, who are the backbone of any successful rental business.
Congratulations and well done, Rentle, and best of luck going forward!