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Italian Angels for Growth members participate in a £1.5 million investment round in Rentuu

  • 22nd June 2020
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Rentuu, a UK based cloud-based technology platform for the multi-billion pound equipment hire industry within construction and events, has received investment from members of Italian Angels of Growth (IAG), Sir Stelios Haji-Ioannou (founder of easyJet), Pilabs VC, Boost Heroes VC and others. IAG are Italy’s largest network of entrepreneurs and financial players that invest time and money to drive the growth of innovative start-ups.

Co-founded by Andrea Guzzoni and Dennis Helderman, Rentuu is a Venture Capital backed start-up, has offices in four countries, and more than 300 partners in its development pipeline. The company is experiencing rapid growth, having secured the backing of a strong global brand – the easy family of brands –  through investment from Sir Stelios Haji-Joannou, founder of easyJet and easyGroup, and securing the brand rights for easyHire, easyEventhire and easyToolhire.

Now, having secured investment from IAG, Rentuu raised more than £1.5 million in investment since 2017 to fuel its vision – to make tool hire and equipment rental easy and affordable for all. This has enabled the business to expand into new markets, including Italy. In fact, this month, easyNoleggio is launching, offering customers a seamless and efficient digital tool hire and equipment rental experience.

Andrea Guzzoni, Chief Executive Officer of Rentuu and easyHire, said of the investment: “We’re very excited to welcome on-board Carolina Gianardi [IAG board member] and the wider IAG team. Their time and input will be invaluable and will play a huge role in Rentuu’s plans for considerable expansion and growth”. Guzzoni continued: “We envision the easyHire brand – powered by Rentuu technology – to be the first European brand for the equipment hire industry that maintains a first-class digital seamless customer experience with delivery operations across the entire geography”.

Carolina Gianardi, IAG board member and Champion of the investment in Rentuu: “Even in these months of emergency, the activity of IAG’s angels continued with greater commitment and energy in supporting innovation and young startups. Our investment decision in Rentuu was driven from both the high potential of the business model and the quality of the team; we appreciated the team since the beginning and saw it even stronger during the Covid period so we are very happy to work with them on the growth of the business”.

Dennis Helderman, Chief Commercial Officer at Rentuu and easyHire, commented further: “Rentuu is associated with a consumer brand that is recognised by 98 per cent of the UK market and by 90 per cent in Europe. Naturally, such huge brand awareness catapults our brand and gives us a strong competitive advantage in a fragmented equipment hire industry that mainly consists of commodities with no major player. The launch of in Italy will make the rental process of equipment efficient and easy”.