Finnish startup Rentle secures €3.8M in a seed funding
The Espoo-based startup Rentle has secured €3.8 million in financing from Tera Ventures, Anthemis, Maki.vc, Mission One Capital, and The Fund. The seed round is to fuel the transition to a circular economy, EU-Startups reports.
- Founded in 2019 by Joel Mikkonen, Toomas Kallioja, and Tuomo Laine, Rentle is a commerce platform for circular economy. It closes the gap between supply and demand effortlessly. The platform empowers merchants to expand their commerce from unit sales to service, from ownership to access.
- The round was led by investors Tera Ventures, Anthemis, Maki.vc, Mission One Capital, The Fund, and StartupIst Ventures. Several unnamed European and US family offices and angel investors also participated. Tera Venture, one of the main investors, is a Tallinn-based venture capital firm that supports early-stage born-global digital startups.
“The scale of the opportunity that Rentle has in front of them is humongous. They’re at the confluence of several secular trends – from sustainability and the circular economy right through to a world where our concepts of ownership are changing. I’m excited to be part of a great syndicate of investors supporting the company, and can’t wait to see the team execute against their vision,”Eamonn Carey, General Partner at Tera Ventures, comments.
- Using the fresh funding, Rentle is now planning to expand to meet the growing demand.