Polish fund bValue exits Renters.pl, a short-term rental manager
Warsaw-based bValue Fund II has fully exited its portfolio company Renters.pl, Poland’s leading short-term rental operator. Enterprise Fund VIII, a private equity fund, will invest up to €19 million, acquiring up to 80% of the company.
- Founded in 2016 bValue Fund is a specialized growth equity investment firm that partners with tech and tech-enabled businesses in Central and Eastern Europe. The Fund is investing across two distinctive strategies, seed and growth.
- bValue manages €100 million growth equity fund, investing €5-15 million in a single investment. The firm also manages €20 million in seed funds and seeded over 30 companies such as: noo.ma, Tidio, Spin.ai, MoreGrowth, YourKaya, Senuto, Shoplo, Fluentbe, PushPushGo.
- Renters.pl was launched in 2018 and today offers over 2,000 rental apartments in the largest Polish cities and tourist spots. It offers its apartments base through Airbnb, Booking, or Expedia as well as its own booking platforms. Renters.pl was ranked 36th among the top 50 largest short-term rental operators in the world in the global Top Property Managers ranking in 2021 and 2022.
“I sincerely congratulate Enterprise Investors on this investment. Renters.pl seems to be a perfect platform candidate to consolidate a fragmented, fast-growing and highly acquisitive market with many adjacent and complementary business ideas,”said bValue Fund managing partner Maciej Balsewicz.
- bValue Fund helped Renters.pl to set up corporate governance and management reporting, structure internal processes, and implement IT systems. The Fund fully exits the investment with a solid return of 8.0x on money invested.