Tallinn-based startup Bidrento raises €800,000 in follow-on funding round from all existing investors, including Pipedrive co-founder and former CEO Timo Rein, Pipedrive first investor Peep Vain . The round also attracted new investors, including several people from Bolt and investors from Switzerland and the real estate sector. The startup provides all-in-one tools for managing commercial real estate, build-to-let, cohousing, student housing, and mixed rental portfolios. The funding will help the company accelerate expansion and preparations for the next larger round. Bidrento also plans to hire new talent to join their marketing and software development teams.
“Rental property management is truly a multi-million task field, where there are many different and repetitive tasks on a daily basis. Even with the use of various programs combined with Excel, property owners and managers still struggle to automate their manual work, which accounts for up to 70% of their daily tasks. This, in turn, becomes a bottleneck in the growth of the property portfolio, which affects ROI and tenant satisfaction,” said Taavo Annus, CEO and co-founder of Bidrento.
Bidrento was founded by Natalja Napsep and Taavo Annus with the aim of integrating all rental property and tenant management actions into one multitasking platform. By automating and facilitating various activities, such as communicating with tenants, drafting and signing contracts, checking tenant backgrounds, managing day-to-day issues, and sending rent, utility bills and reminders, the platform allows property owners and managers to spend less time on manual paperwork and focus on growing their business.
“Our product is aimed at rental property investors and managers, and we are happy to help them grow,” Taavo Annus said. “In a short time, Bidrento has become the most popular building-to-let and portfolio management software in the Baltics, and now it’s time to look to other markets.”
Followed by a strong position in the Baltic market, the company plans to expand across Europe, and for this, it is planned to open a larger financing round in the near future.
“Much has already been done, but this is only the beginning of Bidrento’s journey, and in order to accelerate Bidrento’s growth in new markets, we plan to open a new funding round soon.” Annus said.
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