CPE News (9/3/2021) – Rhenti has entered into a partnership agreement with Hazelview Ventures that will help the proptech start-up to strengthen its product offering and further expand across Canada.
As part of the agreement, Hazelview Ventures invested $1.5 million as lead investor in Rhenti’s $2.4 million seed round financing and was joined strategic investors including Fieldgate Homes and Whiteshell Group Inc., and other private investors.
Founded by Tomas Ronis and Erin Chan, Rhenti is an industry-leading residential real estate software platform that makes the end-to-end process of marketing and leasing fast, easy, and transparent. Having served over 1,000 property owners and operators who collectively manage over 42,000 doors across Canada, Rhenti aims to streamline ‘renting’ with a heavy emphasis on elevating the renter experience.
photo credit: Rhenti
News Release
Rhenti Announces Partnership with Residential Rental Heavyweight Hazelview Alongside Latest $2.4 Million Seed Funding
TORONTO, Sept. 2, 2021 /CNW/ – Rhenti today has announced a new partnership with Hazelview Ventures (“Hazelview”) that will help the proptech start-up to strengthen its product offering and further expand across Canada. The partnership also includes a lead investment by Hazelview in the closing of Rhenti’s $2.4M seed round. The round also includes strategic investment from Fieldgate Homes, Whiteshell Group Inc., and other private angel investors.
“We couldn’t be more excited to partner with Hazelview. This partnership gives our team an opportunity to push the Rhenti experience to countless renters and operators across Canada and brings us one step toward our goal of making Rhenti the default leasing software across the country,” said Tomas Ronis, CEO and Co-founder of Rhenti. “This is also a great indicator that we’ve built a solution that has earned the attention of a major player in the residential rental industry. It’s a great proof point and although we’ve got a lot of work ahead of us, I’m proud of our team.”
“We are fully aligned with their vision of streamlining the experience for landlords and tenants,” said Roger Poirier, Co-Founder of Hazelview Ventures. “This partnership will allow Rhenti to grow by collaborating with an organization that has proven market access, an established reputation, and extensive industry experience. It will help our team by leveraging Rhenti’s software to create operational efficiencies and provide tenants with a simple experience that comes from automation.”
The residential rental industry has typically seen very little innovation in the past. While property owners and managers have struggled with gaining efficiencies, the experience that renters have during their rental search and the overall tenant experience has also been largely ignored. Rhenti’s end-to-end leasing solution streamlines the rental experience with powerful marketing and leasing tools that reduce the time to lease and increase the chance of finding the right renter-rental match. This is good news for the industry as property owners and renters are forced to navigate an increasing number of listing sites and rental tools across the internet, exacerbating an already confusing process.
With its latest funding, Rhenti will grow the team and increase focus on product development and growth across Canada. “We’ve interviewed countless property owners and operators. We know exactly what problems we need to solve,” said Erin Chan, CPO and Co-founder of Rhenti. “The key will be to keep the team moving fast and focussed on the right things. If we can accomplish everything that we set out to, the future where renting is not an awful experience is just around the corner. I’m excited that we get the opportunity to build it.”
About Rhenti
Rhenti is the industry-leading residential real estate software platform that makes the end-to-end process of marketing and leasing fast, easy, and transparent. Having served over 1,000 property owners and operators who collectively manage over 42,000 doors across Canada, Rhenti aims to streamline ‘renting’ with a heavy emphasis on elevating the renter experience. Visit rhenti.com to learn more.
About Hazelview Investments
Hazelview Investments has been an active investor, owner, and manager of global real estate investments since 1999 and remains committed to creating value for people and places. Hazelview employs a global investment and asset management team of more than 70 people in its offices in Toronto, New York, Hong Kong and Hamburg and manages CAD 9.9 billion in real estate assets. To learn more visit hazelview.com.
SOURCE Rhenti
For further information: Erin Chan, Rhenti, erin@rhenti.com, 416-458-2232