Reenter / Investors
Investor deck
Investor overview · pre-seed · October 2026
The operating system for renting in Türkiye
A marketplace, a lease, payments and a deposit alternative in one platform, priced by explainable AI and distributed through estate agents.
The problem
Moving home costs four to five months of rent up front
- Landlords can’t judge tenant risk, so they ask for big deposits.
- Deposits lose value to inflation and end in disputes.
- Agents juggle WhatsApp, paper and listing fees with no tools after the deal.
- One portal dominates listings and fees; nobody runs the tenancy itself.
The solution
One platform for the whole tenancy
Free tools bring people in. Reenter Cover, payments and services are how we earn.
Verified listings, plain-language search
MarketplaceID, income and title deed
KYCExplainable 0–100 risk score
AIReenter Cover instead of a deposit
RevenueTurkish-law lease, e-signature
Free toolIn the app; rent relayed to the landlord in 1 business day
RevenueRepairs, cleaning, painting partners
RevenueCPI cap, notices, move-out report
RetentionWhy now
Renting in Türkiye is going digital, and deposits stopped working
The state now offers online leases and verifies listings. Renters expect digital.
CPI rent caps, mandatory mediation and rental tax checks reward clean records.
Rent can rise by the CPI cap (31.49% this month) every year while a deposit stays fixed, so it covers less each year. Cover is priced on current rent.
Turks already pay bills, taxes and transfers by app. Rent is the exception.
Market
7 million tenant households, 1.76 million in İstanbul
TAM: all tenant households × premium. SAM: launch cities. SOM: your market share assumption.
| Area | Households | Tenant households | Share |
|---|---|---|---|
| Türkiye | 25,329,833 | 6,991,720 | 27.6% |
| İstanbul | 4,755,086 | 1,763,740 | 37.1% |
SOM equals households. Deposits tied up across Türkiye at 2 months’ rent: .
Product
Live today: six free tools. Next: the app
- Lease builder, tax, rent increase, receipts, rent tracker and the rent budget and area finder work now, in Turkish and English
- App: search, profiles, online lease, payments and repairs
- Landlord and agent dashboards with analytics
AI engine
Explainable scoring that prices risk and ranks fit
Financial stability 70%, rental behaviour 20%, profile completeness 10%. No protected characteristics, no criminal records.
Like a no-claims discount: one step up and cheaper every six months without a claim (to 4.5%), one or two steps down after a paid claim (to 12% at most). The step moves with the tenant to the next home.
No deposits
One model: a premium instead of a deposit
| Traditional deposit | Reenter Cover | |
|---|---|---|
| Paid upfront | 2–3 months’ rent | First month’s premium only |
| Refundable | Often disputed | No; it’s a fee |
| Landlord protection | Deposit amount, fixed in lira | Up to 3 months of current rent + damage |
| Price over time | Loses value to inflation | Up one step, and cheaper, every clean 6 months |
| Where the money sits | Often with the landlord, not in a bank as TBK 342 requires | Premium with a licensed insurer |
| Reenter revenue | – | Commission on the premium |
Business model
Recurring revenue from every active tenancy
A share of the 4.5–12% monthly premium, as the insurer’s licensed partner. Option to carry risk later through an MGA or captive structure.
1.5% of rent, paid by the tenant on top of the rent. The landlord receives the full rent within one business day.
Commission on cleaning, painting, repairs, moving and tax filing.
Full management and advanced analytics for portfolio landlords and agencies.
Financial model
Unit economics you can change
Defaults are deliberately conservative. Move the inputs.
Revenue and agent cost
| Tenancies | Revenue | Agent cost | Contribution |
|---|
Revenue = premium income + the 1.5% payment service fee + $30 of services per tenancy a year. Before salaries and marketing. Illustrative, not a forecast.
Competition
Portals list homes. Nobody runs the tenancy.
| Listings | Verified profiles & reviews | Digital lease | Rent payments | Deposit alternative | Recurring agent income | |
|---|---|---|---|---|---|---|
| Sahibinden | ✓ | Partial | – | – | – | – |
| Hepsiemlak | ✓ | Partial | – | – | – | – |
| Emlakjet | ✓ | Partial | – | – | – | – |
| Traditional agents | ✓ | – | Partial | – | – | – |
| Banks / insurers | – | – | – | – | Partial | – |
| Reenter | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
Based on publicly visible features in October 2026.
Why we win
A moat made of data and relationships, not patents
Software and business methods are generally not patentable in Türkiye (Law 6769, art. 82), so we protect the model as a trade secret and compound the data.
Every on-time payment and review makes a profile more valuable to keep on Reenter.
Claims and payment history across tenancies sharpen pricing, which competitors can’t buy.
Recurring commission turns agents into a sales force that stays.
Leases, caps, deposits and tax handled the Turkish way, from day one.
Go to market
Agents first, then landlords directly
- 50 partner agents in İstanbul
Recurring commission and free tools; each brings 10–20 tenancies a year.
- Free tools for SEO
Lease, tax and rent-increase searches peak every month the cap is published.
- Landlord referrals
Portfolio landlords move all their units once one works.
- Then Ankara and İzmir
Same playbook, local agent partners.
Milestones
What the pre-seed buys
Months 1–3
- Insurer and payment partners signed
- Scoring model v1
- Legal structure for the guarantee
Months 3–6
- Agent dashboard
- Beta with first agents and landlords
- Test ranking and pricing
Months 6–12
- Full İstanbul launch
- Reenter Cover live
- Refine risk model with real claims
Seed round
- Ankara and İzmir
- Loyalty and rewards
- Automation across the tenancy
Use of funds
$1.5M pre-seed for 8–12 months
Most of the round builds the product and the scoring model. Licensing partnerships and KVKK work are on the critical path, so the operating budget backs up legal and compliance if needed.
Risks and mitigation
What could go wrong, and what we do about it
Insurance (Law 5684) and payments (Law 6493) are regulated. We partner with a licensed insurer and payment institution; Reenter earns commission and service fees.
Step pricing: higher-risk tenants start on a lower step and drop further after a claim; the insurer reprices the steps with real claims data.
Agents bring landlords; free tools build trust before the marketplace opens.
Listings are easy to copy; verified profiles, payment history and claims data are not.
KVKK by design, explicit consent for credit data, no special-category data in scoring.
Premiums are a share of current rent, so revenue tracks inflation instead of eroding.
Team
Building the team around the hardest parts
Abdullah Rahmanov
Founder and CEO
Leads product, partnerships and fundraising. Background in commercial analytics, forecasting and building data tools.
Hiring with this round
- CTO, co-founderplatform and data
- COO, co-founderinsurance, claims, operations
- Legal adviserinsurance and KVKK
- Agent partnerships leadİstanbul network
Vision and mission
Trust you can see and carry from one home to the next
Mission: make every step of renting digital, fair and protected for tenants, landlords and agents.
Lower upfront cost and a record that opens doors.
Reliable tenants and rent on time.
Recurring income instead of one-off fees.
Transparent prices, fewer disputes, visible rental income.
The ask
$1.5M pre-seed, then $3.5M seed to scale
We’re looking for investors and partners in insurance, payments and real estate who want to build the default way Türkiye rents.
This page is for information only and is not an offer of securities. Figures are illustrative.