Tallinn-based proptech Bidrento has raised an undisclosed figure in an equity round led by Estonian unicorn Pipedrive founders Timo Rein and Urmas Purde. The round also saw participation from Peep Vain, Taavi Kotka, Ivo Mägi, as well as other Estonian real-estate investors.
Bidrento declined to comment on the exact figure, only adding, “it is solid 6 digit number which will be used for central Europe expansion”.
“I decided to invest in Bidrento because I believe in both the team and the idea,” comments Purde. “As a property owner myself, I’m familiar with the management problems that come with it, so I know that the problem they’re solving with their product is very real.”
Founded in 2019 by Natalja Napsep, Taavo Annus and Umar Zarip, Bidrento is seeking to remove the daily grind of property ownership and letting landlords get on with enjoying watching the money stream in. By automating tediums such as the drafting and signing of contracts, doing tenant background checks, and managing day-to-day worries, Bidrento allows landlords, letting agents and property managers focus more intently on increasing their wealth.
“The main goal of rental property investors and management companies is to grow their portfolio and maximize their profits. Bidrento supports this goal by allowing them to manage portfolios that are four times as large with the same amount of people,” commented Bidrento’s Taavo Annus.
Over the past 6 months, Bidrento has demonstrated a stable growth rate, and established a significant presence on the Estonian market. Building on this success, the funding will now propel further international expansion, first up, the DACH region.
“What confirmed my trust in the company was the feedback of Bidrento’s existing customers,” said investor Ivo Mägi. “Their product is useful and strongly integrated into the work processes of the target group. The team is working alongside its customers to plan further developments and takes into account customer feedback. All this shows that they’re solving a real problem and that the market values their efforts.”