Company Name : WhatsOnRent
Funding Amount : Undisclosed
Investor(s) Lalit Mangal, Neeraj Gupta, Sanjay Gupta.
Funding Round : Angel round
Rental Marketplace, WhatsOnRent has raised angel funding from entrepreneurs and investors in Bangalore.
Commonfloor co-founder Lalit Mangal, Excubator co-founder Neeraj Gupta, Angel investor Sanjay Gupta and Bangalore based software firm Nixel Technology have invested in the first funding round of the startup.
The startup will deploy these funds in building robust tech-enabled processes, hiring talent and strengthening category portfolio.
Founded in September 2015 by Sulabh Jain, Shreyans Shrimali and Bharat Goyal who are alumnus of IIT Bombay, IIM Ahmedabad and NIT Trichy, the platform offers home appliances, kitchen appliances, laptops, furniture, party items, treadmills and medical equipment on rent.
The startup follows vendor based model and manages each stage of the order to ensure maximum customer satisfaction.
Currently, the startup fulfills 18-20 orders in a day and has over 500 paying customers, claims the company. Home appliances, furniture and laptops are the leading categories, with a recurring monthly revenue model.