Dubai-based RentSher Middle East that allows users to rent different different products through its platform has raised an undislocsed amount of seed investment. The investment was led by Abu-Dhabi based Shorooq Investments (not to be confused with Shurooq, the Sharjah Investment and Development Authroity) and joined by Dubai-based Latitude Consultant Limited, Kuwaiti investor Ali Al-Salim, and a senior partner from McKinsey’s Middle East office.
RentSher was originally founded in India by Abhijit Shaha, Harsh Dhand, Karandeep Singh Vohra in 2014 but it seems that the Dubai-based entity (RentSher Middle East) is indepdendent from the one in India and is being led by a former McKinsey consultant Vaibhav Doshi.
Started in 2016, RentSher Middle East is a one-stop-shop for renting different types of products including furniture, audio/video equimpent, laptops, medical equipment and travel essentials. The users can rent all these things online in few clicks and they are delivered at their door step.
RentSher also offers their services to businesses allowing them to rent different small and large items including tents, audio/video equipment, ACs and heaters. Apart from regular items, the startup also offers premium furniture rentals for weddings, conferences and VIP events. According to a press statement, RentSher has already completed thousands of rental orders at some key venues including Ritz Carlton, Four Seasons, Kempinski, and The Dubai Mall.
“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.” said Vaibhav Dosh, the CEO of RentSher Middle East. “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”
Mahmoud Adi and Shane Shin, Founding Partners at Shorooq, speaking about the investment, 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.”
We had reached out to RentSher Middle East to learn more details about the investment but our request for a comment went unaswered.
Latest posts by MB Staff (see all)
- YouTube Premium and YouTube Music launch in different countries of MENA including UAE, Saudi, Bahrain, Kuwait and Lebanon - September 11, 2019
- Egypt’s Doctoorum raises investments for its medical tourism marketplace - September 9, 2019
- Dubai-based fintech Foloosi raises $500,000 seed to make cashless payments easy - September 8, 2019