GrabOnRent launches operations in Mumbai and Gurgaon

Online product rental marketplace GrabOnRent has expanded its network from Bengaluru to launch in Mumbai and Gurgaon and is on track to kickstart operations in 6 more cities by the end of 2018.

Backed by Ivy Cap Ventures and Unicorn India Ventures, the company 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.

GrabOnRent offers delivery, installation, and maintenance for its products, as part of its subscription-based service offering.

Shubham Jain, CEO, GrabOnRent said, “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.” 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 in line with the firm's strategy to gain 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 planning  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.