In Series D round by Edelweiss Discovery, Rentomojo uplifts $25 million

A inventive furnishing rental brand providing furniture, appliances, and fitness categories on a basis of monthly rental, Rentomojo has raised an investment of Rs. 210 crore which is approximately $25 million in its ongoing Series D & D1 funding round. The Funding round was led by Edelweiss Discovery Fund Series – I, with contribution from accessible investor Chiratae Growth Fund and Magnetic.

According to the company’s Founder and CEO, Geetansh Bamania, this most recent round of funding from investors serves as a launchpad, driving the firm to persist to lead the generation of the appliances & furniture under rental category in India.

Since its inception, the Bengaluru-based Furniture Startup, Rentomojo activates in 16 cities and has served close to 450,000 customers. It has also erected dealings with most of the well-known & famous lenders across the nation to cater the increasing demands of the rising customer.

Additionally, the company focuses on an online channel and also established offline experience centers across all the major pin codes of Bengaluru city.

In the year 2021, November, the firm raised Rs. 145 crore as a part of Series C round. Rentomojo recorded income generation of Rs. 121 crore in financial year 2023 compared to Rs. 98.6 crore in Financial Year 2022. Throughout the period, the company bowed lucrative with Rs. 6.19 crore profits alongside Rs. 13.5 crore loss in the previous financial year.