Settlrs, a B2B services rental platform, has raised $1 million in its pre-Series A round from Canbank Venture Capital Fund Limited, Vinod Jain Family Office, MaGeHold Pte Ltd, JN Capital and from an angel investor.
The fresh funds will be used for business expansion into other cities and to build a next generation fintech platform, said Settlrs in a press release.
Founded by Gaurav Ranebennur and Nishanth Janadri, Settlrs is a rental services company for furniture, home appliances, electronic and IT infrastructure. It caters to B2B clients in the housing sector, enabling them to shift from outright purchase model to a pay per use model at reasonable monthly rentals.
Till date, the startup has rented out over 35K assets such as furniture, home appliances, fitness equipment across 50 businesses in 15 cities in India.
