Rentomojo raises $25m in Series D

Rentomojo, a rental patform specialising in furniture, appliances, and fitness equipment has raised approximately US$25 million in its latest funding round. This comes as part of the company's ongoing Series D and D1 rounds.

Transaction snapshot

  • Deal value: Approximately US$25 million
  • Deal type: Series D & D1 funding round
  • Investors: Led by Edelweiss Discovery Fund

Rentomojo, headquartered in Bengaluru, boasts a strong presence across 16 cities and has catered to nearly 450,000 customers since its inception. This funding round was led by Edelweiss Discovery Fund with participation from Chiratae Growth Fund and Magnetic.

Geetansh Bamania, Founder & CEO, expressed that the investment will act as a strategic launchpad, propelling Rentomojo to further cement its leadership in the appliances and furniture rental category within India. Ashish Agarwal, Managing Partner of Edelweiss Discovery Fund, highlighted Rentomojo's potential for growth, praising its smart home-furnishing solutions tailored for working professionals seeking flexible housing options.

Rentomojo has reported profitability for 10 consecutive quarters and saw a revenue increase to US$14.6m in FY23, up from US$11.9m in FY22.

Rentomojo's strategic focus on building a robust team, cost management, governance practices, and a customer-centric approach has significantly contributed to its growth and profitability. This latest funding round is set to further enable the company to lead in creating and expanding the appliances and furniture rental category in India.

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