Rente

Rente is a social fintech supporting underserved populations in student-and-affordable-communities. Rente delivers a member-persistent profile/wallet that facilitates the building of credit by seamlessly reporting current and past transactions (rent payments, utilities, subscriptions, etc.) to traditional credit bureaus (Experian, Transunion), promoting financial health and inclusion. Simultaneously, the platform intelligently connects members to local community, including members, services, advocacy, and social programs.

The global renter economy is a traditionally underserved landscape. In the US Alone, 114M Americans spend $650B annually on rent. 50% of renters live in 40 markets. Rente prioritizes underserved mid-markets focusing on low-income and affordable communities, including student populations.

Rente engages student housing authorities, student unions, regional and local housing authorities, NGO’s (United Way), and REITs. Our beta is in market and commercially available. Through COVID, we’ve reoriented reflecting voice of customer to develop a seamless renter-first approach. We demonstrate a low CAC <$2.00 for a waitlist for mobile banking and have hundreds of signups. Retail banks pay $250-350 for new consumer banking customers.

Rente will scale through B2B engagement and channel partnerships.

Rente engages student housing authorities, student unions, regional and local housing authorities, NGO’s (United Way), and REITs. Our beta is in market and commercially available. Through COVID, we’ve reoriented reflecting voice of customer to develop a seamless renter-first approach. We demonstrate a low CAC <$2.00 for a waitlist for mobile banking and have hundreds of signups. Retail banks pay $250-350 for new consumer banking customers.

Rente is a fintech supporting underserved populations in student-and-affordable-communities. Rent payments and recurring payments do not create data or credit history. The Office of the Comptroller of the Currency (OCC) established Project REACh to promote greater access to capital and credit for underserved populations. Simultaneously, the housing market's looming implications combined with moratoriums and default impact the entire residential rental industry value-chain. Although the CDC has stayed evictions within the US until 2021, 40M+ renters are at risk and 12M+ are in default – a 600%+ increase in evictions. In the next few years, millions of renters across the U.S. will need to build and/or reestablish both credit and community.
Rente delivers a member-persistent profile/wallet that facilitates the building of credit by seamlessly reporting current and past transactions (rent payments, utilities, subscriptions, etc.) to traditional credit bureaus (Experian, Transunion,..), promoting financial health and inclusion. Simultaneously, the platform intelligently connects members to local community, including members, local services, and social programs.
Our mission is providing seamless access to credit and capital for underserved populations.

Rente is the first renter-persistent profile/wallet delivering value irrespective of landlord or property manager facilitating clearing house activity for housing authorities.
Rente is leveraged by members to build or reestablish credit without debt. Eliminating predatory lending practices and delivering access to capital for underserved populations. It is used to seamlessly report current/past recurring transactions (rent, utilities, etc.) to credit bureaus (Experian, Transunion). The renter-persistent profile acts as a passport, containing relevant renter data (social, financial, credit), that gateways services and community (advocacy, social programs, services). The solution establishes credit by reporting transaction history (past and present) to promote financial health and access.

Competitors focus on capturing and facilitating only the rent payment or the merchant/landlord transaction - Renttrack, RentReporters, Etc..

Rente is the ONLY renter-persistent wallet, building credit history from rent and recurrent payments without debt, delivering access to capital and community.

Like an employer would pay SAP to improve retention and deliver analytics, Housing Authorities and Landlords pay us to do the same. $24 per member.

We are a mobile bank that shares exchange fees. 70%.

Because we are an ecosystem like AAA/Nextdoor for renters, we will build a valuable renter database that will appeal to insurance companies and financial services seeking to engage tenants. These partners will pay a 6-22% referral fee of the TCV.

B2B - Housing Authorities, Landlords, REITs,
Channels: Direct Sales, Affiliates

B2C - Student Populations, Underserved/Underbanked
Channels: target digital, geofenced w/ look-alike cross-referenced based on university local or demographic data.

Metrics - B2C - We demonstrate a low CAC <$2.00 for a waitlist for mobile banking and have hundreds of signups. Retail banks pay $250-350 for new consumer banking customers.

COGS - 8% (Data Partners)
G&A - 27%
Product Development - 32%
Marketing - 33%

KISS
20% discount
18-month maturity
Valuation cap

Key Project Risks
Rente is profile and community. Every interaction creates down-stream data that leads to a unbiased alt-credit rating predicated upon the rental economy. Merit-based to reinforce virtuous behavior, provide financial inclusion, and bring liberty to the marginalized. FICO could be our most significant competitor, which is biased towards captivity and debt.
Security and Identity Threats
Mitigations and Controls
Adaptive technology infrastructure and stellar API engineering – potential for roll-up and consolidation strategy.
Early enterprise ‘buy-in’ – relationships with channel partners (insurance, financial services, etc).
Governmental mandates to promote access to capital and credit for underserved populations.

Participation in Ocean Accelerator Cohort V1 - May 2020
Conscious Venture Labs Cohort VI - February 2021

Redding Venture Conference - May 2019

Patent in process - novel - immutable renter history / credential.