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Rentomojo posts Rs 266 Cr revenue in FY25; profits surge 92%

EntrackrEntrackr · 4d ago
Rentomojo posts Rs 266 Cr revenue in FY25; profits surge 92%
Medial

Rentomojo posts Rs 266 Cr revenue in FY25; profits surge 92% Following strong momentum in the previous year, furniture and appliances rental startup Rentomojo reported a 38% year-on-year increase in revenue in FY25, while its profit surged 92% during the same period. Rentomojo’s revenue from operations rose to Rs 266 crore in FY25, compared to Rs 193 crore in FY24, according to a company statement released on Monday. Founded in 2014, Rentomojo operates at the intersection of consumer tech and lifestyle, offering furniture, appliances, and newer categories such as water purifiers on a rental basis. The company currently serves over 2.2 lakh live subscribers, manages more than 7.7 lakh rental items, and operates across 23 cities through 71 experience stores. The company said its net rental revenue grew at a 48.24% CAGR between FY23 and FY25, while EBITDA increased to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, reflecting improved operating leverage. Founder and CEO Geetansh Bamania attributed the improved performance to disciplined execution, automation, and a refurbishment-led operating model. “Rentomojo is a consumer tech company building a subscription-first model that has delivered sustained profitability while solving a major problem for its consumers,” he said. According to the company, its return on capital employed (ROCE) stood at 25.1% in FY25, driven by reinvestment into refurbishment, automation, and capital efficiency. Rentomojo added that its circular economy-led approach, focused on reuse and sustainability, has helped improve asset utilisation and long-term resilience. Rentomojo has raised over Rs 650 crore across multiple funding rounds, including its latest $25 million round led by Edelweiss. Notable investors include Accel, Chiratae Ventures, Bain Capital, along with Edelweiss Discovery Fund and ValueQuest S.C.A.L.E. Fund. The company is also supported by banks and NBFCs. The startup competes with players such as Furlenco, Rentickle, Cityfurnish, and to some extent, Pepperfry. According to media reports, the firm is also preparing for an initial public offering (IPO).

Rentomojo raises $25 Mn led by Edelweiss

EntrackrEntrackr · 1y ago
Rentomojo raises $25 Mn led by Edelweiss
Medial

Rentomojo, a furnishing rental brand that provides furniture, appliances, and fitness categories on a monthly rental basis, has secured an investment of Rs 210 crore (approximately $25 million) in its ongoing Series D and D1 round. The round is led by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Growth Fund, as well as Magnetic, founded by Rajeev Chitrabhanu. The firm last raised Rs 145 crore as a part of Series C round in November 2021. This latest round of funding from investors serves as a launchpad, propelling the company to continue to lead the creation of the appliances and furniture rental category in India, said the company’s founder and CEO Geetansh Bamania. Headquartered in Bengaluru, Rentomojo operates in 16 cities and has served close to 450,000 customers since its inception. The company has also built relationships with most of the prominent lenders across the country to serve the increasing demands of the increasing customer. In addition to its focus on an online channel, Rentomojo has established offline experience centers across all major pin codes of Bengaluru. Rentomojo claims to have been profitable for the last 10 quarters. As per startup data intelligence platform TheKredible, Rentomojo registered a revenue of Rs 121 crore in FY23 compared to Rs 98.6 crore in FY22. During the period, the firm turned profitable with Rs 6.19 crore profit against Rs 13.5 crore loss in the previous fiscal year. It competes with Furlenco, Rentickle, Cityfurnish, and to some extent Pepperfry. In July last year, Sleepwell-parent Sheela Foam signed an agreement to acquire 35% stake in Furlenco. The deal roughly values the Bengaluru-based company at around Rs 857 crore (over $100 million). Pepperfry also raised $23 million in September last year and announced the appointment of new CEO following the demise of the company’s long-time CEO Ambareesh Murthy.

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