The tech platform founded by Ignacio Posadas & Adolfo Delibes starts the year announcing a 750.000€ investment with the advice from LIFT Investment Advisorsand the law firm García Silvestre. The startup offering Furniture as a Service "FaaS" through a flexible subscription model for a fixed monthly fee, has now closed its first seed round led by Faraday Venture Partners and also including participation from American, Emirati, French & Spanish investors as well as strategic partners for their B2B2B & B2C business model. The objective is clear: the funds will be used to boost the technology, the team and the expansion across Europe.

In the words of Ignacio Posadas, Rentchester’s CEO & Co-founder, “this funding round will let us focus on technology as a key growth factor as well as strengthen talent in our teams so we can reach the homes of more Spanish and European customers”.

Rentchester has developed a unique model in Spain that makes the strenuous process of moving to a new house as simple, flexible and sustainable as it can be. The platform provides furniture suppliers the alternative to offer their furniture on rental to the end customer or business. Rentchester relies on the circular economy to offer a service that extends the useful life of furniture to achieve sustainable, financial & social benefits.

Almost any business had to face huge challenges in the last year, marked by the pandemic, in order to adjust to the new needs of the general population. In Adolfo Delibes’s words, “we soon realized that the Nomads, the customer segment we were born for, would not be moving in the upcoming months due to the mobility restrictions, so we had to pivot and focus on different secondary segments that allowed us to have a double-digit growth month-to-month regardless of the pandemic”

According to Ignacio Posadas, “the investors have seen in Rentchester a solid & cash-flow generating business with a scalable model with a large growth potential and a proper implementation team as well as other key institutional investors. The current situation has only been boosting our market penetration & growth since society is more and more prompt to find flexible & sustainable solutions when making any relevant disbursement.

The startup that was born in 2019 in Dubai when one of the founders faced a bad experience with furniture while moving back to Spain, has been able to include in their first funding round key players from the European real estate market. Ignacio concludes, “Rentchester has now the network and expertise needed to keep growing and reach our objective of developing our technology, strengthen the team and expand nationally and internationally in European markets.

Jaime Biel, Faraday’s Managing Director remarks “We are very excited to support Rentchester on developing new consumption behavior models on the furniture market. We firmly believe in the team that has been able to tackle a market need with an innovative approach and business model”

About Rentchester

Rentchester offers Furniture as a Service "FaaS" through a flexible subscription model for a fixed monthly fee. Choose the furniture that adapts to your circumstances just for the amount of time you need it with the option to add, swap, buy or return them when life or tastes change.

The startup was born in November 2019, was part of the IE Business school acceleration program winning the last edition of the IE venture lab among +100 teams. It was also part of ADE2020 from “Junta de Castilla y León” and a finalist in the Caixabank EmprendedorXXI awards.

Rentchester services are currently available in 3 Spanish cities (Madrid, Barcelona & Valencia) and +100 customers have benefited making the furnishing process of their household or office as simple, flexible and sustainable as it could be.

About Faraday Venture Partners

Faraday Venture Partners is a pan-European network of Private Investors’ Clubs and a Venture Capital Fund Manager with an excellent return track record in several industries, business models & regions. The company offers their services to their over 250 active partners who have already invested more than 15M€ in over 30 companies obtaining excellent returns and a high service satisfaction.

About García Silvestre law firm

Garcia Silvestre, the law firm that has advised on the process, is led by Ignacio García Silvestre, lawyer with a wide background in advisory services to national and international companies who recently left the firm Baker & McKenzie to open this boutique law firm as a personal Project with a clear objective: create value to companies, businessmen and entrepreneurs.

About LIFT Investment Advisors

LIFT Investment Advisors EAF S.L.,based in Madrid, is an independent financial advisory Company registered in the Comisión Nacional del Mercado de Valores (CNMV) numbered 188, and a financial advisor in the Venture Capital & Private equity share acquisition.

Fuente: Faraday Venture Partners

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