PropTech Funding Roundup: Blueground, Mortgage Brain and Rendin

Blueground raises $45M Series D round

U.S.-based proptech Blueground has raised $45M from investors including Susquehanna and Westcap, and a debt facility from major lenders including Barclays, Deutsche Bank and HSBC.

The firm will use the funds to accelerate its internal technology and pursue strategic initiatives.

Blueground, founded in 2013, offers a portfolio of over 15,000 bespoke furnished apartments and lifestyle services for rental stays longer than 30 days across five continents.

Blueground operates in 32 cities in North and South America, Europe, Asia and the Middle East, making it one of the largest curated global networks of furnished rentals for individual and corporate clients. The firm completed the acquisition of Nestpick in May 2023.

The company recently announced two major franchise agreements with Mitsubishi in Japan and Chic Republic in Thailand. Blueground also operates an invite-only partnerships network.

Alex Chatzieleftheriou, CEO and Co-Founder of Blueground, said:

"We’re thrilled to welcome new strategic investors who share Blueground’s vision of enabling flexible living on a global scale.

"The trust from leading investors like Susquehanna and reputable banking institutions like Barclays, and the syndicate banks, is a testament to Blueground’s financial performance and global leadership.”

Mortgage Brain sells 5.8% to Fintel for £1.5M investment

U.K.-based mortgage solutions provider Mortgage Brain has raised £1.5M from Fintel in exchange for a 5.8% equity share.

Mortgage Brain will use the funds to accelerate investment in its technology and enhance its services to mortgage lenders and intermediaries.

Fintel is a listed financial intelligence company that also owns the compliance and business support specialist Simplybiz and the financial product and market intelligence horizontal Defaqto.

Mortgage Brain’s CRM, sourcing and submission software will be made available to Fintel’s network of advisers.

Neil Stevens, joint CEO at Fintel said:

"Our new distribution agreement with Mortgage Brain will enable our members to access their leading mortgage sourcing and submission software as part of our integrated platform.

"Our investment provides a significant cash injection to accelerate Mortgage Brain’s product transformation, enhancing its solutions and providing even greater efficiency to its customers, including Fintel’s extensive membership base."

Meanwhile, Fintel has also acquired a 70% majority of Regulation-Tech (or "Reg-Tech") company ifaDASH with the option to purchase the remaining shares in the next two years. Fintel paid £500k in cash with up to £1M of contingent cash assuming targets are met.

Estonian rentals platform Rendin raises circa €2M from investors including its own landlords

Rendin, a Tallinn-based home rental ecosystem startup, has secured nearly €2 million led by Tera Ventures.

Interestingly, Rendin has gone one step further by allowing 100 landlords who are Rendin customers to invest in the company via the global accelerator Startup Wise Guys.

Rendin is a platform that connects and protects landlords across technology, insurance, real estate agency, and legal—with around 600 contracts signed on its platform every month.

The platform's offering includes deposit-free renting for tenants, who instead pay a 2.5% fee on top of their monthly to Rendin. In theory, the product saves money for both parties while still offering a legally binding and secure tenancy.

Rendin currently operates in its native Estonia and Poland, but a "pan-European" safe-renting platform is the ultimate goal.

The firm will use the funds to prepare for a Series A round and expansion in current and new markets. Rendin has already raised in excess of €4M from investors including Iron Wolf Capital, Truesight Ventures, Zaka VC, angel investors, and other VC funds.

Alain Aun, CEO and co-founder of Rendin, said:

"Landlords who use us have always asked how they can be a part of our success story. Thanks to Startup Wise Guys, we found such an opportunity, and landlords are still welcome to join during March if they wish."