Rentomojo, the market leader in home goods subscription commerce, showcasing consistent profitability for the last 10 quarters, has raised USD 25 million in a mix of primary and secondary in its Series D fundraise. This is the company’s largest round to date.
The Rainmaker Group has been the exclusive financial advisor on the transaction.
The company will use the funds to expand its business and enter more geographies. “This latest round of funding from investors shall serve as a launchpad, propelling the company to continue leading the creation of the appliances and furniture rental category in India.” said Geetansh Bamania, Founder & CEO of Rentomojo.
Geetansh added, “The Rainmaker team embodies a perfect synergy of individuals with the strongest pulse of the market while possessing a unique entrepreneurial perspective. I’m immensely pleased and thankful for the opportunity to have partnered with them on this fundraising endeavor.”
Siddharth Murarka, Principal at The Rainmaker Group, explains, “Rentomojo has been a strong outlier in the rental space and is steadily pioneering the shift from owning to renting in India. India's growing economy has emerging jobs that require frequent relocation. Consumers today are demanding high-quality yet cost-effective temporary furnishing solutions and are not shy about opting for rentals as a feasible choice. Interestingly, in comparison to other developed economies, India has the highest furnishing cost to per capita GDP ratio, which positions furniture and appliance rentals as a more economical option, versus outright purchase. Leveraging its in-house technology, Geetansh and his team have firmly positioned Rentomojo as the market leader in subscription commerce in India to solve this critical consumer need with its online presence coupled with fast-growing offline stores.”
About Rentomojo
Founded in 2014, Rentomojo is a rental platform for furniture and appliances. The first go-to for any consumer looking to rent home needs, RentoMojo has been a leader and outlier in the rental space. As the market leader in this category, the firm caters to approximately 450,000 customers across 16 cities in India. Beyond its digital presence, the company has strategically set up offline experience centers in key hotspots of Bangalore, showcasing a commitment to both online and offline retail experiences. The company has been profitable for the last two years, on the back of rigorous cost management, sound governance practices, and a tech-first approach.
About The Rainmaker Group
The Rainmaker Group is the investment banking partner of choice for India’s private businesses as they traverse their fundraising journey - from their first growth round to pre-IPO. The firm has delivered growth equity and secondary transaction milestones for over a dozen unicorns, soonicorns, and now-listed businesses.
The firm’s ‘rainmakers’ pride themselves on a founder-like mindset and a proprietary execution process that has delivered industry-leading closure rate and client retention. The Rainmaker Group’s relationship with global investors is underpinned by thoughtful client selection and an insight-driven approach to dealmaking.
To know more about The Rainmaker Group, get in touch with Dhwani Mehta
Dhwani Mehta - dhwani.mehta@trmg.in
