RentYard bags Tk 11.6m US investment, launches operations in Bangladesh

RentYard, a digital home rental and property management platform, has secured an investment of Tk 11.6 million from a US-based company and officially launched its services in Bangladesh.

With the fresh funding, the company is now operating in both the United States and Bangladesh, aiming to modernise the country's traditional rental housing market through technology-driven solutions, said a press release on Monday.

RentYard enables users to search for rental homes, submit applications, and complete rental agreements remotely through its website and mobile application, it mentioned.

Tenants can also pay monthly rent online using credit cards, debit cards, and mobile banking services, ensuring greater transparency and convenience, according to the press release.

Founder of the platform Mohammad Tariquzzaman said people from different professions often face harassment and unnecessary complications while searching for rental homes.

"RentYard was launched to make the rental process simpler, safer, and more efficient," the press release quoted Mr. Tariquzzaman as saying.

Although the startup began its operations just a year ago, its current valuation stands at around Tk 120 million, according to the founder.

He also added that the company has plans to expand RentYard into a global cross-border rental platform in the future.

newsmanjasi@gmail.com