Company Name : RentoMojo
Funding Amount : Rs 13 crore
Investor(s) IDG Ventures Accel Partners India. .
Funding Round : Pre Series A
Founded in 2014, Bangalore based RentoMojo has raised Rs 13 crore from IDG Ventures and Accel Partners India.
The startup provides home furnishing rental platform and currently operates in Mumbai, Bengaluru, Delhi and Pune with a team size of 50.
Geetansh Bamania, Co-founder and CEO, Rentomojo, said, “With urbanization, increasing incomes and declining savings among the working professionals, we are witnessing the birth of Access Economy with the advent of Airbnb, Uber, Rentherunway and the likes. We want our users to get an access to a personalized lifestyle without actually owning it. We work as a marketplace and keep this business asset light.”
The platform has 2000 subscribers and plans to attain 6000 by next March. The company is currently growing close to 45% every month.
The company had recently also launched motorcycles and bike rentals.