Dutch Startup Renno Launches €1M To Targeting Construction Cash-Flow Issues

The company aims to replace outdated payment methods that slow down renovation projects. Founded by Mark Slaughter and Mourad Chennaoui, Renno is backed by āltitude, Angel Invest Ventures, SeedX Ventures, TipTop VC, and several angel investors.

“Float drains contractors. Factoring punishes them. Deposits leave homeowners unprotected. Renno replaces all of this with a protected, milestone-based payment flow that works for both sides,” said Mark Slaughter, CEO and Co-Founder of Renno. “We secure the full project balance in escrow and release funds only when milestones are verified. It is the payment model the industry should have had from the start.”

Renno, a FinTech startup creating financial infrastructure for Europe’s renovation sector, has launched with €1 million in pre-seed funding. The company targets the €850 billion renovation market, aiming to replace slow and opaque payment processes that leave builders and homeowners exposed. Backers include āltitude, Angel Invest Ventures, SeedX Ventures, TipTop VC and several angel investors.

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In 2025 European fintech and payment-infrastructure startups have seen substantial funding rounds: Delfio raised €1.5 million in pre-seed for a payment-automation platform for consumer-electronics wholesale buyers, Payrails closed a €27.7 million Series A to scale its global payments stack, and Qomodo secured €13.5 million Series A for its “all-in-one smart payment” solution for merchants. Renno’s pre-seed raise, while smaller, positions it among early-stage infrastructure innovators, focused on a niche vertical renovation and construction payments rather than general commerce or wholesale.

Launching initially in the Netherlands, Renno plans to expand into Belgium, Germany, France, and the UK by 2026. The platform addresses a critical pain point: 95% of builders currently fund projects from personal savings or credit cards while waiting weeks or months for payments and homeowners often make large upfront deposits with limited transparency. This model contributes to over €280 billion lost annually due to delayed payments with 92% of projects impacted by cash flow issues.

Renno’s digital platform structures renovation projects into defined scopes, with contracts and change orders tracked and updated in real-time. Funds are held in escrow and released only after work validation giving homeowners visibility and security while providing contractors with instant milestone payments. This approach ensures predictable liquidity, reduces financial risk, and mitigates inflated quotes.

“Renovation needed real financial infrastructure, not more patches,” noted Mourad Chennaoui, co-founder and CPTO. “Float and factoring are symptoms of a broken payment model. Contractors need predictable liquidity and homeowners need verified delivery. Milestone-based escrow gives both sides what they lack today. We are aligning money with progress and setting a new standard for renovation payments.”

With around 3 million construction SMEs operating across the EU, Renno’s entry signals a wave of modernisation likely to ripple through Europe’s home‑renovation industry.

Renno’s long‑term vision is to provide a financial backbone for the sector injecting trust, transparency, and automation into a domain historically plagued by delays, inefficiencies, and payment disputes.

Launching in the Netherlands now and targeting expansion into major European markets by 2026, Renno is positioning itself as a key enabler of Europe’s next‑generation renovation economy.

About Renno

Founded in 2025, Renno builds payment rails for Europe’s renovation sector securing full project funds in escrow and disbursing payments to contractors instantly upon verified milestones. Renno eliminates late payments, cash‑flow risks, and disputes, giving builders confidence and homeowners real financial protection from day one.