Furniture, appliances, electronics, and fitness products Platform, RentoMojo has raised Rs 210 Cr Funding in its ongoing Series D and D1 round led by Edelweiss Discovery. Other investors such as Chiratae Growth Fund, as well as Magnetic also participated in the fuding round.
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Bangalore-headquartered RentoMojo will utilize the funding to expand their appliance and furniture rental business. It has amazingly affordable options to bring relocation alive.
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“This latest round of funding serves as a launchpad, propelling us to continue leading the creation of the appliances and furniture rental category in India.” “In addition to our focus on the online channel, we have established offline experience centers across all major pin codes of Bengaluru,” said Rentomojo’s founder and CEO Geetansh Bamania.
“The company offers a smart home-furnishing alternative to working professionals who value the freedom of flexibility in their housing options. This category has tremendous potential for growth, and Rentomojo’s leadership team is well-positioned to continue to profitably grow and lead this segment,” said Ashish Agarwal, managing partner of Edelweiss Discovery Fund.
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About RentoMojo
RentoMojo was Founded by IIT-M alums and serial entrepreneurs Geetansh Bamania and Ajay Nain in 2014, who worked out of almost every major city in India in the last five years. Frustrated with the hassles of relocating from one place to the other, and tired of finding that perfect cluster of home essentials that suited their lifestyle. RentoMojo offers asset leasing, helping you set up your home at easy and affordable rentals (RMI).
