Millennial-focused online furniture and appliance rental firm Rentomojo, today announced that it has raised INR 10 crore from its existing investors Accel and Chiratae Ventures.
Rentomojo started raising its Series C round in mid-2019 and has raised over INR 100 crore across various tranches. The company previously raised funds from Samsung Venture Investment, Bain Capital and others.
According to Entrackr, after the latest development, Accel has acquired 25.68% stake in the company – becoming the largest stakeholder in the company, while Chiratae holds 21.66% stake. With 13.23%, Geetansh Bamania, co-founder of Rentomojo, is the third-largest stakeholder in the company. Bain Capital holds 8.5% and Samsung comes to 2.76% stakes. Angel investor Gaurav Bamania and Rentomojo’s co-founder Ajay Nain own 3.48% and 2.73% respectively. Pandora Trust owns 2.67% while Pratithi Trust has ownership of 1.96%. Shri Investment commands 1.41% and many other investors collectively have 6.35% in the Bengaluru-based venture.
Founded in 2014 by Achal Mittal, Ajay Nain, and Geetansh Bamania, Bengaluru-based RentoMojo is an online rental platform that provides furniture, appliances and electronics (mobiles, laptops) on a monthly rental basis.