Charlotte Residential Property Management Startup Raises $356K

9/30/18

By Bronson Boucher, NC Biz News

Rabbu Inc., a Charlotte-based property management startup specializing in short-term residential space, raised just over $356,000 in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission.

Two investors contributed the $356,000, of which the filing indicates an estimated $160,000 is said to be proposed as payments to executive officers, directors or promoters.

Among those listed on the filing are: Emir Dukic, founder and CEO; James Strong, listed on the firm’s website as the chief technology officer; and Hal Eason, a director at Rabbu with startup experience in Charlotte.

The firm partners with Airbnb, TripAdvisor, Booking.com and VRBO to lease homes and provide properties with marketing services such as photography and tenant touring, as well as a vetting and turnover process for tenants prior to and after leasing, respectively.

Interior furnishings, cleaning and maintenance are also offered by the firm.

A co-working provider in Charlotte called Hygge published an article that explains Dukic’s entrepreneurial beginnings with Rabbu.

Dukic and his wife owned residential property in Charlotte — their home and a detached garage. The latter they converted into rentable living space brought to market via Airbnb. Its success led to a second unit.

After Dukic realized large returns from the second unit, he put money into four more properties. Dukic would leave his full-time position with NBC in 2017 to pursue his new concept: Rabbu.

Private companies such as Rabbu, which rely on a Reg D exemption, are not required to register securities offerings with the SEC, but instead they must file a Form D electronically with the SEC after they sell the securities.

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