Welcome back to 'A European PropTech View, by Dilan Omari-Clark' our Q&A focused on European PropTech's.
Our Q&A series is an opportunity for our European team, headed up by Dilan Omari-Clark to discuss all things PropTech, Start-ups, and Career with different founders from across the continent. Each month we will ask our guests some burning questions and quiz them about their product, we hope you find it insightful and enjoy getting to know the founders as much as we have.
Rentchester offers Furniture as a Service through a flexible subscription model for a fixed monthly fee. You are able to choose the furniture that adapts to your circumstances just for the amount of time you need it with the option to add, swap, buy or return them when life or tastes change. The furniture you pick will be delivered and assembled in just 7 days. The subscriptions are totally flexible and you have the freedom to decide what to do at the end of your plan: buy, extend, swap or return them when life or tastes change. The companies goal is to make all the furnishing process as easy, convenient and affordable as it can be. The company was founded in 2019 and is based in Madrid.
When we launched Rentchester back in 2019, we barely considered our service to be part of the proptech sector. We wanted to offer “FaaS” (Furniture as a Service) to our main B2C market segment, the nomads, those consumers who hop from job to job, city to city or even country to country and need flexibility and freedom. They don’t want long term commitments or burdens (such as furniture) in their lives. Just after a couple of months trying to tackle this segment, we realized that we had many synergies with the Real Estate industry and proptech sector.
By using technology, we are able to integrate Rentchester through APIs in the checkout process of many third-party partners with a cross-sell/up-sell model as well as making the whole furnishing process as simple, flexible and sustainable as possible.
When the pandemic started, we realised that all the short-term apartment rentals were turning into long-term ones due to the lack of tourists traveling.
Old school big property managers, small owners and Real Estate companies had to step up their game in order to compete in the rental market since the short-term apartments had trendier interior designs, newer furniture and all of them included the basic appliances.
We are able to offer them exactly the solution that they were looking for: the ability to redecorate their space for just a monthly fee while avoiding all the headaches that this process involves, to stay up to date with the option to change their furniture every couple of years without making a huge initial investment and to adapt to their accounting needs.
Our goal is to continue growing market share so we can further establish our presence across Europe to become the go-to-place for your medium/long-term furnishing needs regardless of if you are a company or an individual.
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