What Igloo - Rent does

Igloo - Rent (legal entity Leiguskjól ehf.) is an Iceland-based fintech that operates a cloud-based, two-sided rental marketplace and property management platform connecting residential landlords and tenants. Founded in 2017 (some sources state 2020) and headquartered at Sundagarðar 2, 104 Reykjavík, the platform serves individual landlords, property management companies, and tenants across Iceland, including Reykjavík, Kópavogur, Akureyri, Hafnarfjörður, and Reykjanesbær. As of reporting, the platform reports a combined user base of 65,000+ landlords and tenants, 25,000+ signed rental contracts since inception, 1,500+ rental guarantees issued, and 2,000+ monthly active tenants searching for homes.

The platform is composed of a core rental marketplace extended by several integrated modules: Rental Contracts (electronic signing via Dokobit under eIDAS, with automatic HMS registration required for housing benefits), Rental Guarantees (monthly-fee deposit replacement issued via Arion banka hf.), Rent Collection (three tiers from 0.3% basic to 1.2%-1.75% protection tiers, with auto-payout on the 1st of the month and 50M ISK damage insurance through Vörður), Inspections (digital move-in/move-out condition reports), Application Management (swipe-based tenant screening), and a dedicated iOS/Android mobile app. Underlying infrastructure runs on AWS, uses Veriff OÜ for KYC identity verification, Creditinfo for credit assessment, Google Gemini API for AI-powered listing copy and fraud detection, and is ISO/IEC 27001:2022 certified as of June 2025.

Igloo monetizes primarily through transaction-based and recurring percentage fees on rent processed through the platform, plus annual fees on rental guarantees (15.75% of deposit annually for proportional plans, or 18,900 ISK annually for full collateral). Basic account creation and listing search remain free, with revenue generated through premium tiers. The company operates as a self-serve product-led platform with an inside-sales overlay for larger landlords, has not disclosed external funding rounds, and is privately held by founders including CEO and Owner Vignir Lýðsson and Lawyer-Owner Vilhjálmur Andri Kjartansson.

Name

Igloo - Rent

Legal name

Leiguskjól ehf.

Website

https://myigloo.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Igloo - Rent (Leiguskjól ehf.) is an Iceland-based fintech operating a cloud-based two-sided rental marketplace connecting landlords and tenants. The platform integrates electronic contracts, bank-issued rental guarantees, automated rent collection with damage insurance, and digital inspections for the Icelandic residential rental market.

Ownership category

akta.pro rank

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Rent Collection Fees: Igloo charges landlords a fee for automated rent collection and payment processing. Fees are calculated as a percentage of monthly rent and are automatically deducted from incoming rental payments before the balance is paid out to landlords. Automatic reminders and payment tracking are included.
2. Rent Payment Protection (Greiðsluvernd): An upgraded service where Igloo guarantees landlords receive rent on the 1st of each month regardless of tenant payment timing. Tenants must have an Igloo rental guarantee. Fee is charged as a percentage of monthly rent.
3. Rent Protection / Rental Guarantee (Leiguvernd): The most comprehensive tier, including rent payment protection plus 50 million ISK damage insurance for landlords. Requires Igloo rental guarantee. Fees are charged as a percentage of monthly rent.
4. Rental Guarantee Fees (Leiguábyrgð): Igloo offers rental guarantees (bank guarantees) in partnership with Arion banka hf., replacing traditional cash security deposits. Tenants pay a monthly fee instead of a large upfront deposit. Igloo earns fees from the guarantee issuance and management.
5. Platform Access for Tenants and Landlords: Basic account creation and listing search/application submission is free. Revenue is generated from premium service tiers (guarantees, payment collection, protection).

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Igloo operates a cloud-based two-sided rental marketplace and property management platform for the Icelandic market, connecting landlords and tenants. It provides rental guarantees (replacing traditional cash deposits), electronic rental contracts with HMS registration, automated rent collection with payout protection, digital inspection reports, swipe-based tenant application management, and AI-powered listing tools, accessible via web and mobile apps.

Product overview

Igloo (Leiguskjól ehf.) is an Iceland-based fintech rental platform that operates as a two-sided marketplace connecting landlords and tenants. The core product is the Rental Platform, which is extended by multiple integrated modules: Rental Contracts (electronic signing via Dokobit with HMS registration), Rental Guarantees (monthly-fee deposit replacement), Rent Collection (automated invoicing in three tiers from basic collection to full protection with 50M ISK insurance), Inspections (digital move-in/move-out condition reports), Application Management (swipe-based tenant review for landlords), and the Applications tool (tenant-facing rental profile and application builder). A dedicated Mobile App (iOS/Android) provides full-featured access for both parties. All core services are underpinned by ISO 27001:2022-certified infrastructure and integrate with Veriff for KYC, Google Gemini for AI-powered ad copy and fraud detection, and HMS for official contract registration. The platform also offers a Tenant Registry, Organizations module for property management companies, and a Pre-Approval tool for tenants.

Differentiator

Problem solved

Functional benefit

Products and services

• Rental Platform Core digital marketplace connecting tenants and landlords in Iceland; enables property search with filters, rental applications, tenant profiles, messaging, and contract management.
• Rental Guarantee (Leiguábyrgð) Monthly-fee rental guarantee that replaces traditional 3-month cash security deposits, with bank guarantees issued by Arion Bank; transferable between rental contracts.
• Rental Contracts Electronic rental contract creation, signing (via Dokobit, eIDAS-compliant), and automatic registration with HMS for housing benefits eligibility.
• Rent Collection Automated monthly rent invoicing, reminders, and payout service offered in three tiers: Rent Collection (0.3%), Payment Protection (1.75%, payout on 1st), and Rent Protection (1.2%, includes 50M ISK damage insurance).
• Inspections Digital move-in/move-out property inspection reports via app or web, with scheduling tied to contract creation and documentation to support damage claims.
• Application Management Swipe-based tenant application review system for landlords, with custom questionnaires, document requests, and enhanced tenant profiles showing personality and financial reliability.
• Mobile App iOS and Android app providing full-featured access to property search, applications, messaging, contract signing, payment management, and inspection reporting for tenants and landlords.
• Pre-Approval Pre-approval service that allows tenants to pre-qualify for rental guarantees before apartment hunting.

Quantifiable outcome

• 65,000+ combined landlords and tenants on the platform
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

AI capability4 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Arion banka hf.coreStrategic or Co-development PartnerArion banka hf. (Arion Bank) issues bank guarantees (leiguábyrgðir) on behalf of Igloo's tenants, replacing traditional cash security deposits. This is a core component of Igloo's rental guarantee product. The bank guarantee ensures landlords receive payments even if tenants default, while tenants benefit from spreading costs instead of paying large deposits upfront.
• Vörður (Tryggingafélagið Vörður)coreStrategic or Co-development PartnerVörður provides damage insurance (leigutrygging) as part of Igloo's Rent Protection (Leiguvernd) product, covering landlords for property damage up to 50 million ISK. This insurance complements the rent guarantee and is a key selling point for landlords seeking full protection.
• Veriff OÜcoreTechnology or IntegrationVeriff OÜ (based in Estonia) provides remote identity verification services (fjarstaðfræn auðkenning) for Igloo's KYC (Know Your Customer) requirements. Identity verification is required as part of the account creation and rental guarantee application process.
• CreditinfocoreTechnology or IntegrationCreditinfo provides credit and financial information for Igloo's credit assessments when evaluating tenant applications for rental guarantees. Igloo shares tenant name and kennitala (national ID) with Creditinfo for assessing payment capacity.
• DokobitcoreTechnology or IntegrationDokobit provides the electronic signature service for Igloo's rental contracts, enabling legally binding digital signatures compliant with EU eIDAS regulation (electronic signatures per law nr. 30/2002 on electronic commerce).
• Amazon Web Services (AWS)coreTechnology or IntegrationAWS provides cloud infrastructure and hosting for Igloo's platform. Data is primarily hosted on AWS servers within the EEA (European region). Some AWS support services may involve data transfer to the US under Standard Contractual Clauses (SCCs).
• mbl.isminorGTM or Marketing PartnerIgloo has a content syndication partnership with mbl.is, Iceland's major news and classifieds platform, where landlord content (listings, photos, descriptions) may be syndicated to increase property visibility and attract more tenants to the platform.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Hygglo: Hygglo is a Swedish peer-to-peer rental platform for both physical goods and housing spaces. While primarily a Nordic peer-to-peer rental marketplace with broader asset scope than housing alone, it shares Igloo's Nordic marketplace DNA and platform-based rental intermediation model.
• Boligsiden: Boligsiden is Denmark's leading property listing portal, operated by the Danish Association of Real Estate Agents. Like Igloo, it serves as a centralized marketplace in a defined national housing market and benefits from local regulatory and market integration.
• Hemnet: Hemnet is Sweden's dominant property listing platform with deep market penetration in the Swedish housing market. While focused on sales and rentals in Sweden (not Iceland), it shares Igloo's model of a national, deeply integrated property platform with strong network effects in a defined Nordic market.

Direct peers

• HousingAnywhere: HousingAnywhere is a European rental marketplace focused on student and mid-term rentals. Like Igloo, it operates as a two-sided platform connecting tenants and landlords, with digital contract signing and integrated payment features, though at a pan-European scale versus Igloo's Iceland-only focus.
• Blueground: Blueground is a global furnished rental platform with end-to-end digital booking, contracts, and managed payment collection. Comparable to Igloo in offering a full-stack rental experience with standardized contracts and integrated payment flows, though focused on furnished apartments at higher price points.
• Badi: Badi is a European room and apartment rental marketplace operating primarily in Spain, Italy, and other European cities. Similar to Igloo, it connects tenants and landlords via a digital platform with messaging, applications, and standardized rental workflows, though with broader geographic scope.
• Nestpick: Nestpick is a global marketplace for furnished long-term apartment rentals. Like Igloo, it focuses on a digital end-to-end rental experience targeting tenants seeking longer-term stays, with verified listings and digital contracting.
• Spotahome: Spotahome is a mid-to-long-term rental platform offering verified listings, digital contracts, and online rent payment across European markets. Comparable to Igloo in providing end-to-end digital rental workflows including application, contract, and payment for tenants and landlords.

Broad incumbents

• Rightmove: Rightmove is the UK's largest property portal, offering listings for both sales and rentals with deep market penetration. While a broader incumbent in a much larger market, it represents the same archetype of dominant national property platform with embedded rental workflow that Igloo represents in Iceland.
• Zillow: Zillow is the largest U.S. property platform with integrated listings, applications, and rent payment features (Zillow Rental Manager). While operating at vastly greater scale than Igloo and in a different geography, it competes in the same conceptual category of digital end-to-end rental platform serving tenants and landlords.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/igloorent

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Igloo - Rent