Dubai based RentSher Middle East (www.rentsher.ae), the region's first online platform for product and services renting, has successfully raised seed funding (for undisclosed amount). Abu Dhabi based Shorooq Investments (www.shorooq.ae) led and closed the round, while Dubai based fund Latitude Consultants Limited, prominent angel investor Ali Al-Salim of Arkan Partners and a Sr. Partner from McKinsey Middle East office also participated in the round.
Led by Oxford Alumni and ex-McKinsey consultant Vaibhav Doshi, RentSher is a one-stop-shop for rentals providing event furniture and equipment, audio/video, laptops, medical equipment and travel essentials on rent. You can now, in a few clicks, rent anything from tables and chairs for a garden party to bouncy castles for a kid's birthday or a car-seat for your guests - all online, at competitive prices and delivered to your door step when you need them. With a mix of B2C and B2B offerings, RentSher also provides rentals for large events or for enterprises looking to hire range of items such as tents, audio/video equipment, ACs, heaters as well as premium furniture rentals for weddings, conferences and VIP events. RentSher has already completed thousands of rental orders including at key venues such as Ritz Carlton, Four Seasons, Kempinski, Dubai Mall, Festival City etc., at large events such as Ironman Dubai, International Yoga day, JLT runs etc. as well as for large corporates and many Government entities.
"Offline renting is a painful process and customers often struggle finding the right products, price transparency as well as reliability. We are on a mission to transform this Multi-Billion $ market with our easy-to-navigate platform where customers can search from thousands of products online, browse all details and book instantly - so no more wasting hours organizing rentals for your next party! Our business partners receive order bookings without spending time and money towards business development. So we create a Happy Renting experience for everyone. With the support from our investors, we will strengthen our leadership position in online rentals and expand quickly with new products, new cities and new countries across the region as well as a stronger technology platform" - says Vaibhav, CEO of RSME.
Mahmoud Adi and Shane Shin, Co-Founding Partners at Shorooq, said “We are excited to lead this investment in RentSher and build this journey together – we believe RentSher’s business model automates and brings significant efficiency and transparency in the traditional, opaque rental supplier-customer dynamics. Needlessly to say, this rental market is so huge with a lot of potentials to improve. Although a start-up based in UAE, the Company is best positioned for immediate expansion to other geographies with its India office operating for three years already. Strong MoM growth since the launch demonstrates the potential of the concept as well as the team.”