UK fintech Rentd has launched a rewards banking app that allows renters to earn points from rent and everyday spending, connecting the platform with a shopping rewards network spanning 5,000 brands.
The launch marks Rentd’s move from its original proptech model towards a rewards-focused fintech proposition, combining banking, payments, shopping rewards and travel redemption within one app.
Founded by Ahmed Gamal and Lawrence Hansford, Rentd allows users to pay rent and make everyday purchases using a Rentd debit card, earning points on both.
“For millions of renters, rent is the single biggest expense of their lives and the one that’s never given anything back. We built Rentd to end that. To turn the money you already spend into the experiences you’ve always dreamed of,” said Ahmed Gamal, Founder of Rentd.
Its shopping rewards proposition is powered by Wildfire Systems’ merchant network, with Rentd saying it has already onboarded 5,000 brands through the partnership.
Shawn Conahan, Chief Revenue Officer at Wildfire said: “Rentd’s approach to turning everyday spend into meaningful rewards is exactly the kind of value-adding use case Wildfire’s platform was built for. We’re proud to power the shopping rewards layer of the Rentd experience with Wildfire’s extensive merchant network, to help their members get more value out of the online purchases they already make.”
The company has also partnered with AI-powered loyalty and travel technology platform Odynn to add embedded travel capabilities to the app. Odynn’s technology allows Rentd users to redeem points against flights and hotels without Rentd having to build its own travel infrastructure.
“Rentd is changing the game by turning rent into a pathway to travel, not just points,” said John Taylor Garner, Founder/CEO of Odynn. “By integrating our travel and loyalty capabilities, Rentd creates an immediate, high-value connection between a user’s biggest expense and the lifestyle they desire.”
All three Rentd card tiers earn one point for every £1 spent on rent, while rewards for other spending vary according to tier and monthly expenditure.
