B2B rental company Settlrs has raised an undisclosed amount in pre-Series A round from MaGEHold Pte. Ltd., Singapore; and other angel investors. Would deploy the infusion to build the tech platform, expand geographically, and onboard more vendors to the same.
Upon raising funds, Gaurav Ranebennur, Founder, Settlrs, said, “We believe renting is still in its nascent stage in the country and there is a big market for expansion. Renting gives flexibility to customers to use as they wish and then upgrade to a newer product. These funds will enable us to expand geographically and add more vendors to the current platform being built as the market is still very unorganised.”
"We are now marching towards building the top platform of choice for all vendors (large or small) looking to efficiently manage their inventory and leverage the efficient discovery of optimal price vs market demand curve through us via our B2B rentals business," added Gaurav.