In this age, where the needs and wants are not the same thing, people tend to make their lives more comfortable. It’s always difficult for a middle class family to afford luxuries, students to get vehicle without telling their parents etc. Also, if someone likes to play guitar and wants a guitar that is off the chart for his budget, doesn’t always know ‘How to deal with the problem’. It’s always difficult to buy something without even trying, the tendency to rent is now on a verge to grow. To make the process of renting as easy as buying clothes online, ‘RentSetGo‘ came into being.
Mumbai-based RentSetGo is a mobile marketplace for renting cycles, motorcycles, camera and camera accessories, camping gear and musical instruments. Users can get access to products through its website or via an Android App. The company was founded in November 2014 by Shruti Ajmera Reddy and Sunith Reddy.
For example, select the Bicycles category and explore the cycles that are listed. Click on the Cycle you like, selects the dates and send a request to rent. The startup deliver the cycle at your doorstep and collect it back after the rental period is over. It support both Cash on Delivery as well as online payment.
The company had raised an undisclosed amount of funding from angel investor based in Delhi. Talking about their investment plans, the startup told iamwire, “Despite raising a round we have a mindset of a bootstrapped startup and you can expect us to be in the market soon with some more news on the funding side.”
RentSetGo claims that it has received phenomenal response from its early adopters since its public launch in October 2015. The startup has over 3000 listings live on its platform across 5 categories and touching 2x growth in revenues month on month. Its average ticket size has also increased 200% compared to July 2015.
“Addressing the challenges of product discovery, affordability, logistics and end to end customer support we have built a strong consumer base with over 25% coming back to our platform for more,” says team.
The firm charges a transaction fee per order. Going forward, the startup will be focused on building its niche in the travel and leisure space. Commenting on its future plans, the team mentioned, “We are using proprietary technology and the power of network effects to spread the word on how we can collaboratively build a shared economy where the focus is more on experiences and less on expenses. The demand for our services is driving our growth and taking us places.”
The biggest challenge faced by RentSetGo is to educate its users, drive awareness and gradually evolve the consumer’s buying behavior to an on-demand experience focused behavior. The startup further added that eventually we see ourselves in a world where we finally say ‘ByeBuy’ and ‘HelloRenting’ so that more users have access to things that can help them build memories, experiences, ideas, achieve their goals without ownership of things being an obstacle in their path.
There are a few players targeting the vertical space of product rentals like furniture rentals (Furlenco), clothing rentals (Flyrobe) etc. Speaking about its differentiation factors, RentSetGo says, “We are mobile first platform with a 3 step booking process, Niche market focus: travel and leisure, high–quality service layer for customers and ease of payments.”