How Will Rentomojo Use the $25 Million Funding?
Rentomojo, the Bengaluru-based furniture and appliance rental startup, plans to use the $25 million funding to further build on the appliances and furniture rental category. The capital raised will be used for expansion efforts, including broadening the geographical footprint and enhancing product offerings in the appliances and furniture rental sector. This strategic utilization of funds is expected to strengthen Rentomojo’s market position and enable it to serve its customers better by offering a wider range of products and services.
Rentomojo Raises $25 Million in Funding Round Led by Edelweiss Discovery
Furniture and appliance rental startup Rentomojo has raised $25 million in a funding round led by Edelweiss Discovery. This is the company’s largest funding round to date and will be used to expand its business and enter new markets. Rentomojo has been profitable for the past 10 quarters and serves close to 450,000 customers. The company competes with several other furniture and appliance rental companies, including Furlenco and Pepperfry.
In Short:
- Furniture startup Rentomojo has raised $25 million in its largest funding round to date.
- Rentomojo boasts profitability for the past 10 quarters and serves nearly 450,000 customers across India.
- This funding round, led by Edelweiss Discovery, positions Rentomojo for continued growth in the flourishing furniture rental market.