Rentomojo Raises INR 210 Cr. in Series D & D1 Round Led by Edelweiss Discovery Fund – Fueling Growth in India's Furniture and Appliance Rental Market

Rentomojo, a leading furnishing rental brand offering furniture, appliances, and fitness equipment on a monthly rental basis, has successfully raised an investment of INR 210 Cr. in its ongoing Series D & D1 round. The financing is spearheaded by Edelweiss Discovery Fund Series – I, with participation from existing investor Chiratae Growth Fund and Magnetic, founded by Rajeev Chitrabhanu.

Headquartered in Bangalore, Rentomojo operates in 16 cities and has catered to nearly 450,000 customers since its inception. The latest round of funding underscores the company's continued growth and success in the dynamic rental market.

Rentomojo has cultivated strong relationships with prominent lenders nationwide, ensuring financial stability to meet the increasing demands of its customer base. The company has not only focused on building a robust online channel but has also established offline experience centers across major pin codes in Bangalore. With a record of profitability over the last 10 quarters, Rentomojo maintains a strategic balance between growth and profitability.

Geetansh Bamania, Founder & CEO of Rentomojo, attributes the company's performance to a combination of factors, including a dedicated team, stringent cost management, robust governance practices, a tech-first approach, and an unwavering commitment to enhancing customer experience. This new injection of funds from investors serves as a catalyst, propelling Rentomojo to maintain its leadership in the appliances and furniture rental category in India.

Ashish Agarwal, Managing Partner of Edelweiss Discovery Fund, the lead investor in the Series D round, expressed excitement about the partnership, stating, "We are excited to partner with Geetansh and the Rentomojo team. 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."

Venkatesh Peddi, Managing Director & Partner at Chiratae Ventures, commented, "We are strong believers in Geetansh and the Rentomojo team and are very impressed with how they built the company over the last couple of years. We remain committed to the journey of Rentomojo and look forward to its continued success."