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vishakha Jangir
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Set2Score • 9d
𝗛𝗼𝘄 𝗱𝗶𝗱 𝗥𝗲𝗻𝘁𝗼𝗠𝗼𝗷𝗼 𝗱𝗲𝘃𝗲𝗹𝗼𝗽 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝘁𝗵𝗲 𝘀𝗶𝗺𝗽𝗹𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗽𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲 𝗼𝗳 𝗿𝗲𝗻𝘁𝗶𝗻𝗴? Founded in 2014 by Geetansh Bamania, an IIT Madras graduate. Operates as a fintech-driven leasing company, offering rentals for furniture, appliances, electronics, and smartphones. Follows an asset-light model, partnering with vendors instead of owning inventory, ensuring cost efficiency and scalability. Revenue model is subscription-based, generating income through monthly rental payments. Key product categories include furniture and appliances (40% of sales) and smartphone rentals (expected to contribute 40% by 2021). Raised $47.1 million in funding from investors like Bain Capital, Accel Partners, and IDG Ventures, with a valuation nearing $100 million. Bamania previously worked at Flipkart and Pepperfry, gaining experience in e-commerce and product management. Inspired by the rental culture in the UK, initially considered a toy rental business before pivoting to furniture and consumer electronics. Expanding into new categories, including men’s clothing rentals, as part of test-marketing efforts in Bengaluru. Operates in major Indian cities, such as Mumbai, Bangalore, Delhi, and Pune, serving over 100,000 live orders per month.
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