Company Name : Rentomo
Funding Amount : $100K
Investor(s) Shiva Ashok . .
Funding Round : Seed round
Bangalore based Rentomo has raised a seed funding of $100K from angel investor Shiva Ashok and a UAE based investor.
Rentomo provides a platform that allows users to borrow/rent regular items which they may need only occasionally- like a drill,ladder,camera,bicycle,travel bag etc.
The startup was founded by Anshul Johri (ex Amazon) in August 2015. The startup is currently focusing in Bangalore and is boosting popular categories like travel, sport & fitness, motorbikes & electronics.
The company plans to touch a user base to 10K in next 3 months and 2.5K items listed on the platform. It also plans to add payment, delivery and insurance of items soon.
The company claims that in 6 months the platform got 4000+ verified registered users, 300+ listings, closed to 250+ transactions and is growing 30% month on month in terms of transaction, users registration and listings.