Halifax equipment rental platform Frenter has closed the $350,000 second tranche of a two-part funding round worth a combined $620,000.
Frenter raised on the back of monthly revenues well into the four digits, CEO Zach Laberge said in an interview. The pre-seed round was led by Connetic Ventures and Newfoundland's Killick Capital.
Laberge, a 16-year-old student, said the raise gives Frenter enough runway to cover its costs while the company works on hitting revenue milestones in preparation for a seed round in about nine months.
“We ended up deciding (originally), ‘Let’s raise a smaller