Online payment network RentMoola raises $5 mln in funding

RentMoola Payment Solutions Inc has secured $5 million in funding from a group of strategic, accredited and retail investors. The round was led by strategic investor Conservice LLC and principals of Wyse Meter Solutions Inc. Based in Vancouver, RentMoola is an online payment network that allows tenants and owners to pay rent and other payments. Founded in 2013, the company said it will use the funds raised to execute on its growth strategy in key markets, including Canada, the United States and Europe. RentMoola also plans to pursue strategic and venture capital financing opportunities this year.


RentMoola Raises $5 Million as Global Growth Accelerates

TORONTO, ONTARIO–(Marketwired – March 2, 2016) – RentMoola is pleased to announce that its $5 million Offering is oversubscribed, following strong support from strategic, accredited and retail investors. The round was led by Conservice, LLC and the principals of Wyse Meter Solutions Inc. Over $5 million was raised from a combination of strategic, accredited, eligible and equity crowdfunding investors.

“The outcome of this Offering is a great result in a challenging investment environment for early stage technology businesses. We believe the strong support from our investors is a reflection of our unique fintech growth and market opportunity which culminated in a strong year of growth in 2015. In 2016 the net proceeds of the Offering will be deployed across our business to ensure the successful execution our global growth strategy in key markets including Canada, U.S., UK and Europe,” said Patrick Postrehovsky, Co-Founder and CEO of RentMoola. He added, “Our team has been able to deliver sustained monthly growth and traction as a result of their passion, dedication and executional excellence. We look forward to another successful year ahead with even greater growth velocity.”

The Offering provided a unique opportunity outside of the traditional venture capital channel for Canadian and global investors to take part in RentMoola’s global fintech growth story. Part of the raise included Canada’s largest equity crowdfunding campaign to date, taking advantage of new online equity crowdfunding platforms.

“This is a clear example that the Canadian regulators got it right with the offering memorandum (OM) in Canada. To date RentMoola’s $5 million raise is the largest equity crowdfunding round in Canadian history,” added Oscar A Jofre, Founder of KoreConX.

RentMoola will continue to explore strategic and venture capital investment opportunities beyond this round to further accelerate their growth in 2016 and beyond.

RentMoola, one of North America’s leading fintech companies is changing the landscape of paying rent all over the world. Solving the age-old problem that paying and collecting rent is a major hassle, RentMoola is an online global payment network that allows tenants and owners to pay rent and other payments by credit card, debit card, RM Direct Debit™ or RM Cash™ while earning rewards. Our members have access to our MoolaPerks™ program that provides exclusive deals to travel, lifestyle, home services and other rewards redeemable across North America, UK and Europe.

Patrick Postrehovskky
Co-Founder & CEO
(604) 916-2718

Photo courtesy of Shutterstock