What is Rentomojo?
Rentomojo, a profitable startup for the past 10 quarters, offers a unique service of renting furniture and appliances. Since its establishment in 2014, it has expanded its operations across 16 cities in India. With a customer base of approximately 4.5 lakh, Rentomojo has successfully carved a niche for itself in the rental market. Its business model caters to the evolving needs of consumers, particularly millennials and young professionals who prefer flexibility and convenience over ownership.
Check out Rentomojo’s Official website
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.