Since its launch in 2015, this is the first form of external financing for Rentlio. They plan to use Infinum Ventures’ investment for further business development, especially in terms of expanding the team and winning new market segments by developing new product functionalities.
“The accommodation services segment of the hospitality industry is lagging far behind the digital age. It’s suffocating in outdated systems, while the modern guest expects a flawless, instant, and digital experience” says Marko Mišulić, CEO and founder of Rentlio.
Rentlio currently has a team of more than twenty tourism technology experts, and the application itself is used by more than eight thousand accommodation units in over forty countries around the world. Most users are located in Croatia, so the investment and partnership with Infinum will be used to reinforce its market position in the region. Furthermore, Rentlio plans intensified acquisition activities in the global market, primarily in countries such as Italy, Portugal, Spain, and Vietnam where Rentlio already has a significant user base.
“We’re very optimistic about technology in tourism, and we look at this investment as building a long-lasting partnership. The Rentlio founding team have established themselves as leader sin digitalization. Marko is an example of an entrepreneur who has a vision and is capable of realizing it. His team is doing incredible work in building a complex digital product,” points out Tomislav Car, co-founder and CEO of Infinum, who also took on the role of advisor at Rentlio.
Car’s experience, both in building Infinum and Productive tech companies and working with companies in the hospitality industry such as Maistra, Royal Caribbean. and Disney Cruise Lines, will be an outstanding addition to Rentlio.
“After seven years of independent company development, I am immensely proud that we earned the opportunity to continue our journey with the best of Croatian IT. I am sure that this investment and partnership will help us realize a stronger vision of digitalization of tourism and the development of a stable company with global ambitions and great local influence,” Mišulić concludes.
He adds that he is glad that they have proved that such cooperation can be achieved even when the company is not located in Zagreb and hopes that this will be motivate other similar companies outside the Croatian capital.
Legal advice in concluding this investment was led by the law firms Metelko, Knežević & Partners and Mišković & Mišković.
Rentlio is a property management software for hotels, apartments and other types of tourist facilities. Using advanced technology, Rentlio centralizes and automates the management of reservations, sales channels and guests. The company boasts an average annual growth rate of 77 percent since its inception.
Infinum Ventures is an investment branch of the leading Croatian technology company Infinum. With almost two decades of entrepreneurial experience, Infinum Ventures invests in the companies of ambitious founders and helps them scale their business to new heights with advice and mentoring.