Rentickle.com Raises $250K in An Angel Round of Funding
Rentickle.com , the life style rental start up venture has raised an angel round of USD 250K backed by industry veterans Manish Kheterpal ,Managing partner at WaterBridge Ventures, Mr Vinay Mittal, Chief Financial Strategy Officer of HT Media, Mr Dinesh Mittal, Chief Legal counsel HT Media and Mr Sandeep Gupta, General Manager, Emerging Asia, Microsoft, Singapore.
Rentickle.com is focused on enhancing the lifestyles of consumers by providing on rental basis brand new lifestyle products like Home Appliances, Furniture, Sports gear etc. While lifestyle rentals is a large and organized industry in the West, in India this industry till recently was largely dominated by localized and unorganized players who provided consumers mostly with used products at very high prices with little or no focus on aesthetics or quality.
Rentickle.com started off in November 2015, and today in a short period of 6 months , have serviced diverse clients from various walks of life- students, young professionals, newly married couples, expats and large corporate houses.
The furniture is fabricated in dedicated manufacturing facilities using the best quality and aesthetically elegant material like teak, top quality fabric etc., whereas the appliances are sourced directly from manufacturers, so consumers are thrilled to receive factory packed appliances with on site warranty provided by the brand. The company offers attractive monthly rentals (starting at Rs. 100/- per month!), and promises brand new furniture which is home delivered free of cost within 3 to 5 days. The company also offers unique benefits like reducing rentals( after 6 months of renting )and buy-back option to consumers.. Continuing its focus on customer delight, the company is offering free on- site maintenance and polish/ fabric cleaning every six months for products supplied.
The company is servicing Delhi NCR currently and has already drawn ambitious plans to expand PAN India in the coming months. Also in the pipeline is the category expansion into baby products, elder care, adventure gear, sports equipment and may more. Rentickle has a studio on Sohna Road, Gurgaon for consumers who wish to see the products before taking on rent. The team has already furnished close to 200 rooms in the last 6 months and is confident of generating a 5 Crore committed revenue in a couple of months from now.
About the founders – Amit Sodhi and Vineet Chawla
Amit is a Delhi College of Engineering / ISB Hyderabad alumnus and has 15 years corporate experience with Maruti Suzuki and then with HT Media as Director for its Education division. Prior to founding Rentickle.com, Amit co-founded Homeobuy which was acquired by Healthcart.com last year.
Vineet is an MBA from Mumbai University and has 25 years corporate experience in senior leadership roles with Godrej, Whirlpool India, Oriflame Cosmetics, and Future Group. In his last assignment, Vineet was the CEO of India and SAARC region with Hong Kong WInalite Group.