What’s On Rent, an online product rental marketplace, has raised an angel funding round from Lalit Mangal, co-founder of CommonFloor; and Neeraj Gupta, co-founder of Excubator. Along with them, Sanjay Gupta also participated in this round.
With the newly raised funding, the Bengaluru-based startup will invest the money in expanding to more categories and scaling up its core operations and technology team.
Founded by Sulabh Jain, Shreyans Shrimali, and Bharat Goyal, What’s On Rent offers home appliances, kitchen appliances, laptops, furniture, party items, treadmills, medical equipments, etc. on rent.
Currently, the company claims to be fulfilling about 20 orders a day across all categories. It is now looking forward to grow it three-fold in the next couple of months. More recently, the startup had launched a try-before-you-buy programme where customers can rent latest gadgets on rent for a short duration, and make the buying decision based on trial experience.
Sulabh Jain, co-founder of the company, said,
Our vendor relationships, quality processes, streamlined payments and customer verification will help scale and maintain edge over the competition.
Lalit Mangal, who invested in this round and is mentoring them with product and marketing initiatives, said,
I am a big believer of a future of accessibility. I was impressed with the founding team’s strength and the idea of a multi-category marketplace with an asset-light model.
The company competes against the likes of Rentomojo, which is backed by Accel Partners; Lightbox, which is backed by Furlenco; and used furniture marketplace Go-Zefo.