RentSher Raises Seed Funding

RentSher Raises Seed Funding

Dubai-based RentSher Middle East has announced that it has successfully raised seed funding. Abu Dhabi-based Shorooq Investments managed and closed the round, while Dubai-based fund Latitude Consultants Limited, prominent investor Ali Al-Salim of Arkan Partners, and a senior partner from McKinsey Middle East office also participated in the round.

RentSher, led by Oxford Alumni and a former consultant at McKinsey Vaibhav Doshi, is one-stop shop providing online rentals, including laptops, TVs, home appliances, medical equipment and travel essentials, and so on. The region’s first online platform for product and services renting also provides rentals for large events, such as weddings, conferences and VIP events, using a mix of business to consumer (B2C) and business to business (B2B) offerings.

“We are on a mission to transform this Multi-Billion dollar 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,” CEO of RentSher Vaibhav Doshi said.

“Our business partners receive order bookings without spending time and money towards business development. 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,” he continued.

The online rental start-up has already completed several of rental orders, including at key venues such as Ritz Carlton, Four Seasons, Kempinski, Dubai Mall, Festival City etc., as well as at large events such as Ironman Dubai, International Yoga day, JLT runs etc.

“We are excited to lead this investment in RentSher and build this journey together,” Mahmoud Adi and Shane Shin, Co-Founding Partners at Shorooq said. “We believe RentSher’s business model automates and brings significant efficiency and transparency in the traditional, opaque rental supplier-customer dynamics. 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.”

 

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