“RentSpree” Thai PropTech Startup achieves over 300 million baht in 2021!
Reveal the Main Keys to get Thai teams to “Unicorn” in 3 years RentSpree is an all-in-one online rental application platform that exists to resolve issues and improve the home renting system’s speed and security. It is one of the Thai startups that has exploded in popularity in the United States. It is presently operational and is recognized throughout all 50 states as a fully integrated platform for tenant screening, property management, and tenant relationship management. RentSpree has served real estate brokers, property owners, and over 750,000 users in the United States within 6 years and continues to grow its user base through partnerships with more than 200 top real estate companies.
RentSpree was founded in 2016 by one of Thailand’s founders, Paul Ekabutr Sirisuphang as Chief Operating Officer (COO) alongside Michael Lucarelli, CEO, who was named to Forbes 2021’s 30 under 30 list of accomplished people under the age of 30 in Enterprise Technology. RentSpree’s headquarter is in Los Angeles, California. The US office will be in charge of business development and customer service, while the Thai office will be in charge of product development which will be led by a team of software engineers, data engineers, and product designers.
RentSpree received more than 250 million baht in funding to become a Series A startup in the middle of 2021, with 645 Ventures as the main investor group investing in RentSpree from the Seed Round, along with Green Visor Capital and Vesta Ventures and this funding. This is a significant step, increasing the value of RentSpree’s business to 1.6 billion baht. The corporation has utilized the investment to propel its business to a global level in this area, including strengthening the team in Thailand, which is a critical component of the platform’s development. RentSpree has set a goal of increasing the number of employees in Thailand from 85 to 200 by the end of 2022. The Thai product development team is considered as an important key to quickly establishing the platform as the market leader in rental homes in the United States.
RentSpree’s revenue has consistently increased by at least double each and every year. In 2021, RentSpree made the revenues up to 300 million baht and targeted 600 million baht in 2022. And the most important goal of the organization is to make RentSpree another Thai startup to the “Unicorn” level by 2024.
RentSpree’s strategies for achieving the goal are divided into 4 major categories:
- People – The major force in developing the platform is “people,” which is as crucial as organizational culture and personnel development. RentSpree is committed to creating a working environment that is conducive to the new generation, including preparation for various welfare concerns, whether it is to improve employee skills or train existing employees to be as good as the top executives in Silicon Valley’s world-class organizations.
- Growth – RentSpree is developing into a more comprehensive home renting platform that will be recommended of all realtors, real estate owners, and tenants in order to maintain a growing user base.
- Partner – Increasing the number of partners and developing new technology to provide a better user experience and help the organization access new customers in a shorter amount of time.
- Brand – RentSpree will be the first PropTech firm to make renting a home simple, fast, and safe, transforming the notion of renting a property from a transaction to a long-term partnership.
Paul Ekabutr Sirisuphang, Chief Operating Officer (COO) and Co-Founder of RentSpree said “We put people first, this is RentSpree’s main strategy for getting to its goal of becoming a unicorn. Thai people have the same abilities as any other countries in the world, and RentSpree is, of course, a Thai startup. As a reason, we are looking for Thai personnel to join our team. We are ready to train and develop our people so that they can grow with the company and walk toward the goal together. RentSpree is dedicated to creating a new global standard for rentals to make people’s life easier, more convenient, and more connected within one platform. We have set a goal to achieve within the next 3 years to reinforce the vision that we have built something that is effective and can truly solve problems in the real estate industry, and that we will expand the platform to be used in other countries around the world, including Thailand in the future.”