The World Economic Forum has declared that the world could change in one of eight ways by 2030, one of them being our collective consumption behavior. Experts from the World Economic Forum predict: “You will own nothing and you will be happy. Anything you want, you will rent it and it will be delivered by drone. »
Building on this need driven by an evolving consumer, the Finnish Circular Economy Business Platform To rent out raised $3.8 million in funding. The round was supported by major financial services investors, including Tera Ventures, Anthemis, Maki.vc, Mission One Capital, The bottom and European and US family offices and angel investors. After the funding, Rentle plans to expand its global presence and help merchants increase their inventory in a sustainable way.
Founded in 2019, the commerce platform provides merchants with software to easily and cost-effectively participate in the circular economy. According to the company, what sets Rentle apart from existing commerce platform giants such as Shopify is its focus on enabling any retailer or brand to start a circular business model in minutes. Its traders range from small, entrepreneur-run businesses to ski resorts and retail brands such as Motonet and Decathlon UK.
Tuomo Laine, CEO and Co-Founder of Rentle said, “Our goal is to stop the world from drowning in stuff by ending one-time consumption, one merchant at a time. We are developing technology that helps sellers move to more profitable and sustainable circular business models. For consumers, this will mean effortless access to a wider range of higher quality products at a lower price.
Sophie Winwood, Principal at Anthemis added, “Any significant behavior change requires an underlying technology platform to facilitate it. As we move from buying goods to accessing them, Rentle will be that platform. Not only is this move a necessity as we transition to a more sustainable model of commerce, but it also represents a huge business opportunity, where the integrated fintech and insurtech revenue streams will play an important role.