RENTOMOJO RAISES $10 MN FROM BAIN CAPITAL, OTHERS

NEWDELHI: Furniture and consumer durables rental startup RentoMojo has raised $10 million in series B funding from private equity investor Bain Capital Ventures and fin-tech entrepreneur Renaud Laplanche, the company said on Tuesday. Exiting investors Accel Partners and IDG Ventures contributed 20-30% of the fund and have increased their share in the company, RentoMojo CEO Geetansh Bamania said. Accel Partners and IDG Ventures had earlier invested $7 million over two rounds. RentoMojo, founded in 2014, offers home durables from sofas to appliance like washing machine and even two-wheelers on rent. The service is pitched as an alternative to buying home durables.