ETSA 2024: Comeback Kid winner Rentomojo eyes IPO in next 18 months
This is part of a series of interviews with the winners of The Economic Times Startup Awards 2024.
After having witnessed an unprecedented downturn during the Covid-19 pandemic, which left the company with cash to run just for a fortnight, Accel-backed furniture and electronics rental startup Rentomojo is now gearing up to file for an initial public offering in the next 18 months, its founder and chief executive Geetansh Bamania said.
Founded in 2014 — among multiple other furniture and electronic rental startups that came up at the time — Rentomojo had its work cut out to come out on the top.
In early 2020, when profitability was in sight, the pandemic exposed several pain points and the company had to course correct to eventually become profitable. This journey was behind Rentomojo being picked by the elite jury of the ET Startup Awards as the winner in the Comeback Kid category.
Rentomojo turned profitable in FY23, and has stood out among competitors that have faced difficulties in making unit economics work in a sector — that Bamania says is akin to «trekking and not a marathon» because of the depth of the industry.
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