Settlrs, a B2B services rental firm, has raised US$1 million (about Rs 7 crore) in funding from Canbank Venture Capital Fund Ltd and other investors.
Vinod Jain Family Office, MaGeHold Pte Ltd, JN Capital, and an unknown angel investor are among the other investors in the firm, which is incubated at NSRCEL, IIM Bangalore (IIMB).
“Renting as a formalised industry in India is still in its infancy. Settlrs Founder Gaurav Ranebennur stated, “We hope that the novel financial solution being implemented in the Settlrs platform would result in wider acceptance of our business and contribute to streamlining the unorganised rental industry.”