Our CEO Oleksiy Lubinsky held another Q&A session where he discussed the fundraising campaign, the platform's technology and and the goals for 2022 and beyond.
For those of you who were unable to join us, please find the summary of the Q&A Session:
Fundraising Campaign on StartEngine
We already successfully raised 70% of the $12.4M capital raise goal. Based on the strong momentum, we expect to finalize the raise in just several months.
Our goal is to launch the Flexible Living project this year. Rentberry began as a fully digital long-term rental platform, but we were inspired by the needs of digital nomads, students, and other groups with mid-term rental needs. We see strong market potential around this, and we believe Flexible Living will perfectly complement the fully digital renting experience we already offering to our users.
The company went through yearly audit (Rentberry audits all its financials since the inception). The results will be publicly available in May once published to EDGAR.
About a year ago, we were contacted by number of companies who were interested in the possible acquisition of Rentberry. However, we feel like there is still a lot of potential for the platform to grow, so it will remain not for sale for now. We do think the company has potential for being sold or going IPO some time down the road. However, this decision will be made after further discussion with shareholders.
Sources of Revenue
Although we aim to put growth before becoming a self-sustainable company, for the time being, we have already started monetizing Rentberry and are constantly looking and open to new revenue sources. As of today, paid services include property promotion, tenant screening, and renters insurance, as well as charging our partners for the placement of their properties on our platform.
There are a few revenue sources we are strongly considering now and which we might implement in the near future. Examples include selling leads to providers and local businesses and charging for third-party services. Our revenue goal is $5M in the next twelve months.
The current RegA+ on StartEngine won’t be the final fundraising round for Rentberry. Our goal is to continue growing fast, and we envision another capital raise 12 to 14 months after the end of the current investment campaign.
We’re still working on the details, such as the timing and the platform where it will take place, but we plan for a higher valuation based on our goals and what the company has achieved already. The campaign will most likely be open to individuals, qualified investors, and VC funds. But, we would recommend all individual investors to get in now on StartEngine.
This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please read Rentberry offering circular.