Rentomojo was founded by IIT-M alums which rent furniture to people who relocate to other city for short time, along with furniture Rentomojo also offers furnishings, appliances and other home products that house seekers can book at affordable rentals.
Geetansh a serial entrepreneur who had worked with major eCommerce companies like Flipkart and Pepperfry and Ajay who worked at Himalaya Drug company and Daimler
It is Currently operational in Mumbai, Bangalore, Delhi, Pune, Noida, Hyderabad, Chennai and Gurugram which is a rental platform for Package goods, furniture and appliance. Rentomojo have 10,000+ active customers right now across six cities in India and is aiming to reach 10 million rental apartments.
Rentomojo funding story is also a success just like its concept has raised funding from of $2 million from Accel Partners and IDG Ventures India in November 2015 and raised funds of $5 million again from Accel Partners and IDG Ventures India in July 2016.
Rentomojo to lease Bike
Rentomojo is now offering Bikes on lease service in selected cities like Delhi-NCR, Mumbai, Bangalore and Pune, the company is introducing this concept in cities with 80% of population uses two-wheelers and commuting is major hurdle.
Customers can request bikes for rent for any duration varying from 1 to 24 months. In above image one can see Honda shine 125 cc is being offered for rent, and rent price for 24 months is at the 2999/month and the customer has to pay 6999 as refundable deposit before taking bike as rent.
The total payout for two years comes around Rs. 72,000 while the actual cost for new bike would have been Rs.1,10,000 so the user saves 34% by taking rent.
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One can take bike for rent for different time periods like 1, 3, 6, 9, 12 and 24 months and the monthly rent changes accordingly, in the above image the same Honda shine 125cc is rented for 1 month and the rent has changed to Rs.5049
The move has gained company a strategic lead over its competitors like Cityfurnish, Furlenco, Rentongo who are still restricted to furniture, the expansion is product line has given edge from their competitors.
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