InRento increases share capital to fund expansion plans
InRento has increased its share capital to fund expansion into new countries and invest in its technology.
The European buy-to-let crowdfunding platform said it has decided to increase the company’s share capital to €694,673.74.
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“In simple terms, it means that InRento has raised investment to develop a technological product and to carry out expansion into foreign countries,” the firm said in a blog post on its website. “We raised these investments in a planned way and used them to open up the Spanish and Polish markets.”
InRento said the other benefit of the fundraise was that it was “not forced to finance deals of questionable credibility” during periods of uncertainty such as the Covid pandemic and the start of the Ukraine war, enabling them to maintain high-quality lending.
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InRento is supervised by the Bank of Lithuania and is required to meet capital adequacy requirements, which the Bank of Lithuania monitors through its reporting. InRento said it has raised venture capital from three institutional investors since inception in 2020, in order to accelerate its growth.
InRento generates an average annual return of 15.46 per cent, connecting investors with buy-to-let opportunities for as little as €500.
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The company has 4,210 active investors and has funded €23,266,017 of buy-to-let investments to date.