Bangalore, India – [25th Sept 2024] – Flent, a proptech startup reshaping urban renting in India, has raised INR 6.5 Cr in pre-seed funding. The round was led by WEH Ventures, with participation from US-based 2 AM Ventures, Pareto Holdings, and a group of angel investors, including Sanchan S Saxena (Ex-GM, Airbnb), Aneesh Reddy (Founder, Capillary Technologies), Arjun Vaidya (Founder, Dr. Vaidya’s), Shradha Sharma (Founder, YourStory) and Abhilash N (Co-founder, Ivy Homes).
The funds will be used to expand its core team and further develop India’s first full stack renting platform, which aims to make renting 10X easier & faster for India’s new-age working professionals.
“People compromise on so many things when it comes to renting—settling for outdated & unfurnished homes, hefty deposits, subpar brokers, and one-sided terms. We believe that in today’s world, compromise isn’t an option, especially for the new generation. At Flent, we’re making renting as simple as booking an Uber”, said Shail Daswani, Co-Founder and CEO, Flent.
Founded by Shail Daswani, Mayank Lalwani, and Rishabh Agnihotri, the startup has seen solid traction for its flagship product Flent Reserve. Within 15 days of signing up & sharing their preferences, a customer can move into a fully furnished, designer turnkey home with zero brokerage, a minimal deposit, and flexible stays ranging from 3 to 11 months.
Rohit Krishna, General Partner at WEH Ventures said, “Think of Flent as India’s first experience-led broker that doesn’t charge brokerage fees. Flent has shown solid validation that a full-stack model can deliver a superior experience for both tenants and property owners, offering a real alternative to the outdated renting process. Just as Amazon, Myntra, Swiggy, and Ola brought disruption via superior experience, Flent is creating an irreversible shift in the world of renting.”
Since its inception in October 2023, Flent has launched 120 rooms across Bangalore, from 1 BHKs to 3 BHKs, all of which have been rented out within 10 days of launch. The company already has a waitlist of over 500 people and has consistently achieved 100% occupancy.
“Urban renting in India is a $10 billion industry, but it remains fragmented and focused on sales rather than the experience. Our investment in Flent reflects a straightforward belief: young Indians want hassle-free, high-quality homes, and Flent is uniquely positioned to meet this demand,” said Hershel Mehta, Managing Partner at 2 AM VC.
As a part of their latest campaign, the team also released a music video that humorously brings out the frustrations of a renter’s experience, from difficult landlords to outdated practices. It’s inspired from how Dua Lipa redefined conversations about love in her work. The music video has gone viral on LinkedIn & X, attracting over 500,000 viewers.