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Rentall, a start-up supported by EIT Digital, has secured EUR 1.25 million in funding and is expanding into new markets

A Spanish start-up revolutionising consumer habits by transforming shoppers into renters is expanding its global footprint with support from EIT Digital.

Rentall’s platform facilitates the rental of various products, from computers to scooters, offering consumers an eco-friendly alternative and reducing unnecessary consumption. It also provides a new revenue stream for retailers and suppliers by seamlessly transitioning them into the rental market.

The system is environmentally friendly, reducing unneeded consumption. Products are reused as often as possible, and when they no longer work, they are broken down for parts and recycled, feeding the circular economy.

Complex system enables new way to consume

The platform, developed with expertise in banking and finance, connects banks, insurers, and buyback companies, offering innovative financial solutions. Rentall has integrated features such as biometric recognition for rapid customer identification, fraud management, and a smart virtual assistant to enhance the user experience.

It's really a challenge to join the two worlds, the bank - with their complexity of IT systems and questions of how to approach the market - and the retailer, who wants something very competitive and fresh, with a very quick go-to-market to make their life easy. Rentall appears in the middle.

Francisco Carvajal, Rentall CEO 

Rentall’s system also integrates insurers because each product is insured to protect renters and retailers from losses in the case of damage or wear.

EIT Digital has nurtured the growth of Rentall from the beginning. The collaboration with EIT Digital within the "i3 Lifestyle" innovation activity of the Open Innovation Factory helped the start-up develop its platform - adding a biometric recognition tool that enables rapid customer identification, fraud management measures and a smart virtual assistant to enrich the customer experience. EIT Digital later took shares in the company, which is now part of the EIT Digital Equity Portfolio.

New investment and expanding operations

As it draws in funding, Rentall is also growing its types of business and partnerships. EIT Digital's connections also helped the company grow to the point where Rentall could attract their latest investment, company officials say, and those connections are still providing value.

For our international expansion, we are in contact with potential partners, including working with Finance Innovation, who we met thanks to EIT Digital.

Bertrand Rigaud, co-founder 

The journey from Spain into the broader European market has commenced with Nerva e-scooter rentals in France, and Italy is set to follow suit. Subsequent steps involve extending operations throughout Europe and beyond. 

Our plan is to get to the United States in 2026, because the renting-leasing market started there years ago, and it is very mature. It's a big market and we are sure we can do a lot of business there.

Bertrand Rigaud, co-founder 

According to Rigaud, the internationalisation work is one area where Rentall will use its new EUR 1.25 million in funding. The funding will also support further development of the platform and integration of new partners, hiring the staff that Rentall needs to grow, and launching an online marketing campaign.

Expanding revenue, partners and rentable items

Along with growing investment, Rentall is growing in the number of rental customers it serves and the types of services it offers.

The total value of insured goods rented through the system expanded from EUR 50 000 in January to EUR 250 000 in September, and with the new types of business they handle, they are anticipating an increase to EUR 500 000 per month by year's end.

New products they are developing for rollout soon include financeable technology as a service and a bot that assists in all aspects of sales for solar power systems. 

The bot will recommend the best installation and the best payment method in a very flexible way. It will be an intelligent tool for all the sales representatives for solar and is developed through an agreement with Polytechnic University of Madrid.

Francisco Carvajal, Rentall CEO 

Other partnerships help with financing. To enable a broad range of financing instruments to serve their partners, Rentall has built "a strong ecosystem of Tier 1 banks, with support from Cetelem and Abanca, who were recently joined by BBVA, Sabadell, and Société Générale (SGEF)," says Carvajal.

Rentall's rapid growth reflects its mission to become the reference hub for subscription and rental models, promoting a sustainable pay-per-use consumption style.