Bike rental service provider, RentOnGo has secured an unspecified amount of funding from some angel investors. The angel investors, who have participated in this round of funding, are Rajesh Sawhney, Anand Chandrasekaran (CPO of Snapdeal), Shiva Pare, Kalpana Tatarvati and others.
The company will use the fund to expand its business in the bike category and offering more useful services to its customers. The startup is also planning to expand its services in some other major cities. RentOnGo is a marketplace for bikes like motorbikes, scooters and cycles and its main office is located in Bangalore. The platform allows people to rent bikes through its app.
RentOnGo was founded by former Infosys employee Nikhil Chhabra and Vikash Jalan in 2013. As of now, the startup operates in four major Indian cities that includes Bangalore, Pune, Hyderabad and Goa. Its android app offers bike rental services, whereas web version provides services in some other categories as well. The mobile app of RentOnGo also provides real time availability of bikes. Currently, users in Bangalore can book the bike instantly, which will be delivered to their door steps pretty soon.
Rentomo is another platform that allows customers to borrow and rent some daily usage commodities like bike, cycle, drills, camera and others from your neighbors, friends or some other trusted people. The company had recently raised unspecified amount of funding from Dubai based investor. The RentOnGo also faces competition from some other players in this sector like Faida, irentshare and RentSher among others.