RentMoola Makes Paying Rent Rewarding

Continuing from our blog series featuring Canada’s brightest Fintech startups, we’d like to introduce you to 2015 Notable Award winner for “Canada’s Best Online Business,” RentMoola. As one of BC’s leading fintech companies, RentMoola is a global payment network that rewards people for paying rent and condo fees.

Cofounded by twin brothers, Patrick and Philipp Postrehovsky, RentMoola recently raised $5 million to help support expansion efforts in the U.S. and U.K. RentMoola’s fundraising marks the largest equity crowdfunding round in Canadian history. Currently stocked with a talented crew of 26 employees (plus “Prince,” their adorable, yet ferocious Corgi security dog who growls like a big bad Doberman), RentMoola is centrally located in downtown Vancouver.

So how does RentMoola work?

RentMoola wants to help you eliminate the rent check and start paying your rent anywhere, anytime. Just by signing up, you’ll instantly gain access to hundreds of exclusive “Moolaperks”.

• Fast Sign Up: Create your tenant profile effortlessly in minutes. No commitments, no surprises, no sign up fees.
• Pay Your Way: Choose a payment method that suits you. We accept any credit card, MasterCard/Visa debit, and eCheque.
• Flexibility: Set up recurring or one-time payments and split rent with your roommates, too.
• 100% Guarantee: We fully guarantee that your rent is paid on-time to your property manager or landlord.
• MoolaPerks: Access exclusive deals and earn extra points with your favorite rewards credit card.
• Giveaways: Enter for chances to win free rent, prepaid gift cards, and trips around the world.

Patrick (left) and Philipp Postrehovsky (right), founders of RentMoola, a global payment network that rewards people for paying rent and condo fees.

We had a chance to sit down with one of the Postrehovsky brothers, Philipp, to get his thoughts on the future of payment, and how RentMoola fits into the ecosystem.

Trulioo: Is Vancouver a good city for Fintech? Why or Why not?

Philipp: I think Vancouver is a great place for a fintech company to flourish! Firstly, there is a highly supportive tech community and world class talent to help execute your vision. Also, in recent years, Vancouver has seen more and more tech darlings including EA, Vision Critical, POF, Slack, Global Relay, Recon etc. This trend continues to allow access to capital a little easier. Lastly the city just got voted as the best city in North America. How can you go wrong?

Trulioo: What’s Next for RentMoola?

Philipp: We’re always working on new features to take things to the next level. One of those is RM Everywhere which will allow tenants to make rewarding payments even if their property manager or landlord is not signed up. We’ll also be launching in Ireland later this year. With one of our brand colours being green, we should fit right in!

Trulioo: Where do you think Fintech will be in the next five years?

Philipp: Five years can feel like a lifetime in tech especially fintech. In the next 5 years I see large FIs continuing to collaborate and acquiring agile fintech companies to remain competitive and relevant. I also see the phone becoming a mainstream payment device making the traditional wallet redundant. This will help drive the eventual elimination of physical currency around the world. Finally, it’s the Canadian government’s mandate to eliminate cheques by 2020. With companies like ours aligning with that mandate, I predict rent cheques at least will be well on their way to becoming history.

If there’s a fintech company you’d like to see featured in our Fintechs in Canada blog series, please submit your request to [email protected].