Furniture and appliance rental platform Rentomojo has taken a significant step towards its planned initial public offering (IPO) by converting itself into a public limited company. Recently approved by the company’s board and shareholders, Rentomojo has rebranded from “Rentomojo Private Limited” to “Rentomojo Limited” through a special resolution, as revealed in regulatory filings accessed by Entrackr.
Founded in 2014, Rentomojo operates at the convergence of consumer technology and lifestyle, providing rental services for furniture, appliances, and newer categories like water purifiers. The company has a customer base of over 2.2 lakh subscribers and manages more than 7.7 lakh rental items across 23 cities through 71 experience stores, positioning itself as a prominent player in the rental market.
In its FY25 financial report, Rentomojo highlighted substantial growth, with a 48.24% CAGR in net rental revenue between FY23 and FY25. Additionally, EBITDA rose to Rs 118.41 crore in FY25 from Rs 78.23 crore in FY24, indicating enhanced operational efficiency.
Rentomojo has secured over Rs 650 crore in funding rounds, including a recent $25 million investment led by Edelweiss. The company boasts support from notable investors like Accel, Chiratae Ventures, and Bain Capital, among others. Rentomojo’s successful financial performance, with operating revenue reaching Rs 266 crore in FY25 and net profit surging by 92% to around Rs 43 crore, underscores its market potential.
Source: Entrackr : Latest Posts