Real estate platform InRento acquires property crowdfunder EvoEstate
Real estate crowdfunding platform EvoEstate has been acquired by InRento, another property investment platform. Users will be migrated to InRento, where they can invest starting from 100 instead of 500 euros.
Estonian crowdfunding aggregator EvoEstate will continue to operate under the name of InRento, the company writes. On EvoEstate, users can invest across European real estate platforms. The website has 6700 investors and has funded over 4 million euros in loans across Europe. Rental investment platform InRento, whose founder is also EvoEstate’s co-founder, has funded more than 2 million euros to date.
EvoEstate users migrated to InRento
From now on, no new investments will be posted on EvoEstate’s primary market. Existing investments will continue to be administered by EvoEstate, though, and can still be accessed.
EvoEstate’s investors will be offered an InRento account.
However, users’ data will be shared with InRento. Investors will also be offered an InRento account, the company says.
Investment starting from 100 euros
The takeover will mean a few changes for investors. First of all, they will need to open a personal payment account with Paysera or Mangopay – the current payment providers of InRento.
Users can trade their past investments with zero fees.
In addition, while the minimum investment amount on InRento is 500 euros, EvoEstate’s users can exclusively invest in loans starting from only 100 euros. This was the minimum amount on the platform before the takeover. Users can also trade their past investments on the secondary market of EvoEstate with zero fees.
530 thousand euros raised
InRento is known for offering monthly interest payouts of rentals, but also offering possible capital gains. This is distributed to investors when a property is sold for a higher price. Past August, the Lithuania-based company raised 530 thousand euros for further expansion. Their average rental yield is around 7 percent, according to the website.