Tech-focused brokerage Mdrn. lands $1 million funding to build out its rental platform

Real estate and lifestyle firm Mdrn. and its flexible rental service Stoop has raised $1 million in seed funding, Inman News reported this week.

Mdrn. describes itself as a vertically integrated brokerage, with a focus on property management, leasing, roommate searches and design. It also operates Stoop, which lets tenants rent properties for a full year or on a month to month basis. The two brands operate as separate companies but closely entwined via their common ownership.

The plan is for the $1 million seed funding to be evenly split between the two companies, though Mdrn. plans to expand Stoop as a means of growing its own brokerage business. In an interview with Inman, Mdrn. founder Zach Ehrlich said Stoop was a kind of “StreetEasy” that’s powered by integrated agents.

“The capital will enable both companies to expand on their core real estate operations and technology infrastructure,” Ehrlich said in a statement. “This includes Stoop’s portfolio of turnkey, thoughtfully designed living spaces, as well as Mdrn.’s existing sales and leasing operations.”

Mdrn. refused to name its investors, merely saying it was being backed by “New York real estate families” and some Israeli investors.

Mdrn. said that it’s planning to use the new funds to expand Stoop’s inventory and hire new staff to its teams. In addition, Mdrn. will expand its own infrastructure and technology, and attempt to sign up more agents on its platform. In future, the company is also eying an expansion into other markets, specifically in the Northeast and South regions.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Recent Posts

How Interest Rates are Impacting Buyers and Sellers

Home sales are a part of the economy that is affected fast and significantly when…

6 hours ago

How to create a real estate ecosystem?

Are you wondering what a real estate ecosystem is and how to create one? In…

1 day ago

How to Invest in Rental Properties Out-of-State

Owning real estate is a worthwhile investment, but what happens when available properties in your…

1 day ago

9 Home Upgrades That Don’t Add Value When Selling

Upgrading your home isn’t as simple as it might seem. Installing marble countertops or a…

1 day ago

Everything You Need To Know About Selling A House With A Bad Roof

You can sell a home that needs a new roof if you're willing to make…

1 day ago

Top Tips for Great Sleep this Autumn

Summer, it’s been a blast. Though as the last of the BBQ’s sizzle out and…

1 day ago