Dutch startup Renno launches with €1 million targeting construction cash-flow issues
Amsterdam-based fintech startup Renno has launched with €1 million in pre-Seed funding, aiming to revolutionize the €850 billion European renovation market. The company focuses on addressing the cash flow issues plaguing the construction industry. Renno's solution replaces traditional payment methods with a milestone-based system, securing project funds in escrow to protect both contractors and homeowners. Renno's funding comes from various investors, including āltitude, Angel Invest Ventures, and SeedX Ventures. The startup's digital platform structures projects into defined scopes, documents contracts in real-time, and releases funds upon work validation. With 95% of builders financing entire projects from savings, and €280 billion drained annually from the sector in delayed payments, the market is ripe for innovation. The impact of Renno's platform is designed to benefit both contractors and homeowners, by providing predictable liquidity and increased security. Contractors gain instant milestone payouts, reducing the need to inflate quotes, while homeowners get better visibility and assurance. Renno plans to expand into Belgium, Germany, France, and the UK by 2026. This funding round aligns Renno with other European fintech startups seeking to build financial infrastructure tools. In 2025, Delfio, Payrails, and Qomodo secured significant funding, highlighting the ongoing investment in the European fintech landscape. Renno's specialized focus on renovation payments positions it uniquely within this sector.
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