Rentickle.com, the lifestyle rental start-up venture has raised an angel round of USD 250K. The round was 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 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 vast and organized industry in the West, in India this industry till recently was largely dominated by localised and unorganised 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 an 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 six months of renting )and buy-back option to consumers. Continuing its focus on customer delight, the company is also 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 six months and is confident of generating a 5 Crore committed revenue in a couple of months from now.