GrabOnRent launches operations in Mumbai and Gurgaon

Online product rental marketplace GrabOnRent has extended operations beyond Bengaluru to launch in Mumbai and Gurgaon and is on track to kickstart operations in 6 more cities by the end of 2018.
The two and a half-year-old firm, which is backed by Ivy Cap Ventures and Unicorn India Ventures, offers products on rent across a host of categories such as furniture, home appliances, laptops & computers, fitness equipment, etc offering over 45,000 products across 500 stock keeping units.
As part of its subscription-based service offering, GrabOnRent offers delivery, installation, and maintenance for its products.
“We have seen a huge influx of people migrating to cities like Mumbai and Gurgaon and GrabOnRent caters to such audiences who are looking for an economical, yet quality life,” said Shubham Jain, CEO, GrabOnRent. The firm has over 200 and 150 service partners in Mumbai and Gurgaon respectively, offering about 300 products on rent in these cities.
The expansion is part of the firm's strategy to expand its customer base from 35,000 currently to 1,00,000 in the next 3 months even as it claims to grow at a rate of 22% monthly.
The company is looking to launch more multi-functional products in its biggest category i.e. furniture, to further boost volumes in the new geographies as it targets revenues of over Rs 100 crore by FY19.

Trending News

Amazon India reportedly closing in on Flipkart

Paytm seeks RBI license for P2P lending

IBM launches low-cost blockchain platform starter plan for startups

Regional OTT players shine despite foray of Netflix & Amazon

Chargebee secures Rs 120 crore in Series C funding

Flipkart's fashion vertical ahead of both Myntra, Jabong

Facebook breach: Privacy advocates in India seek stronger data laws

Amazon has warrants in BPO servicing rivals Flipkart & Paytm

Zappfresh raises Rs 20 Cr funding led by Dabur's Amit Burman

Alibaba to invest $2Bn more in Lazada, replaces CEO

OYO acquires Chennai's Novascotia Boutique Homes

Amazon cuts seller fees in a bid to push certain categories

Facebook Lite to launch in developed countries, including United States

Reliance Jio adjusted gross revenue up 21.3% at Rs 5,300 crore in Q3

Angels offer to dematerialise unlisted shares to solve row

Healofy raises $1M seed funding from Omidyar Network

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Myntra brings EMI down to just Rs 50 in sales push

HDFC Bank blocks all its credit and debits cards to buy or trade cryptocurrencies

India to lead in data science job creation: Biocon Chief Kiran Mazumdar-Shaw

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

Understanding local nuance is our key competitive edge: Indian Internet firms

SpaceX is launching its broadband satellites into orbit this weekend

Unilever threatens to cut back online ads over 'toxic' content

Google hires former Samsung Mobile CTO to coordinate Internet of Things projects

Go-Jek plans India foray in second half of 2018

Pivoting away from Cube brought us to the right route: PayU's Jitendra Gupta

Ola parent to invest Rs 400 crore to boost Foodpanda India logistics & tech

Alibaba plans tighter integration of Paytm Mall with BigBasket & XpressBees

MakeMyTrip posts wider loss in Q3, may revisit OYO strategy

Google fined Rs 135.86 crore by CCI for 'search bias'

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Toyota, Suzuki to produce electric vehicles for India market by 2020

Qualcomm rejects Broadcom's $103 billion offer

Fashion e-tailer Voonik asks staff to forgo 3 months' salary

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities