Rentree

Rentree is a South Korean technology startup that operates a data-driven platform for comparing and contracting home appliance and internet rentals. The company was founded in November 2021 by CEO Seohyun-dong, a former certified public accountant who identified inefficiencies and a lack of transparency in the conventional rental market. He recognized that the traditional rental process was cumbersome for consumers, involving high search costs and non-transparent pricing and contract terms. The co-founder, referred to as Mr. Park, was a university friend of the CEO with a background at CJ Group and experience as a project manager at a fitness startup.

The platform digitizes the entire rental process, from product recommendation and price comparison to contract and cancellation, offering a one-stop service. It aggregates information on over 6,700 rental products, allowing users to compare brands, contract conditions, prices, and designs in one place. A key feature is its reverse auction system, where vendors bid for a consumer's business, which helps drive down prices. For consumers, the service is designed to be convenient and secure, featuring personal information protection through chat-based consultations and an escrow system that ensures promised cash support payments from vendors are delivered upon installation. Rentree's business model is based on charging a commission fee of around 4% for each completed transaction on its platform. The company serves both individual consumers and business clients looking for cost-effective rental solutions.

Since its official service launch in January 2022, Rentree has shown significant growth, reporting a 15% monthly increase and achieving a cumulative transaction value of 30 billion KRW by August 2023. The startup has secured seed funding from Mashup Angels and a Pre-Series A round of 2.6 billion KRW from investors including Dasung Ventures, FuturePlay, D.Camp, and the Korea Credit Guarantee Fund. It was also selected for the TIPS (Tech Incubator Program for Startup) by the Korean Ministry of SMEs and Startups. The company aims to expand beyond home appliances to become a comprehensive commerce platform for all rental and subscription-based services.

Keywords: home appliance rental, internet rental, rental marketplace, price comparison platform, reverse auction, subscription commerce, fintech, proptech, rental data, digital contracting, home electronics, consumer technology, e-commerce, South Korean startup, equipment leasing, product subscription, lifestyle subscription, rental escrow service, home services, office appliance rental