India based RentOnGo (a product of Condivision Solutions Pvt Ltd), a bike rental marketplace has raised an undisclosed amount of investment from angel investors including Rajesh Sawhney, Anand Chandrasekaran (CPO, Snapdeal), Shiva Pare (heads Trendin) and Kalpana Tatarvati (Partner, Interweave Consulting) among few others.
With the investment raised in the round, RentOnGo plans to go deeper into the bike category garnering more supply, expanding into more cities and providing more value added services to customers.
The Bangalore-based startup which started as a horizontal marketplace in lead-generation model a couple of years back, pivoted earlier this year to a fulfilment model with an app for rental of bikes (motorbikes, scooters and bicycles). RentOnGo was founded in 2013 by Nikhil Chhabra (ex-Infosys, IIMC Alumnus) and Vikash Jalan (ex-Goldman Sachs), who complement each other on business and technology fronts. The startup was part of GSF’s m-accelerator of 2015 batch.
Currently, RentOnGo is present in 4 cities (Bangalore, Hyderabad, Pune and Goa) with its Android app for bike rentals apart from the web platform which caters to other categories. The company’s app shows real-time availability of bikes, allowing instant booking and doorstep delivery (in Bangalore as of now).
Rentomo is also operating in this segment which allows users to borrow/rent everyday items they may occasionally need, like a drill, ladder, camera, bicycle, travel bag etc. to someone in their trusted network. It raised an undisclosed amount of seed funding from Dubai based investor. Other services functional in this space are Faida, irentshare, RentSher etc.