Guarented Rentals - A Journey of Three IITians from Scratch to a True Spot in Rental Industry

Bengaluru, India, October 05, 2017 --( “Our story began in the year 2015, when the startup trend was buzzing. Three friends from IIT-Kharagpur decided to take the big leap - of starting out on their own, dreaming big and disrupting the rental space. We’ve now rented out 1 crore worth of assets, and we’ve only just started.” - Harshwardhan Raikar, CEO, Guarented Rentals

When three friends, Harshvardhan Raikar, Prateek Agarwal and Abhimanyu Dikshit started Guarented, the startup culture was just getting into an exciting phase, people were moving to cities to join work or start something new, set things up, collaborate and work together on big ideas. The rental culture was in its nascent stage, people were increasingly looking for temporary options in furniture and appliances for their homes. Also, people didn’t want to carry these assets with them wherever they went.

Guarented recognised the need for affordable and flexible rental options, that were perfect for travelling millennials as well as awarded them comfort and security for a fraction of the buying costs.

While the rental industry was on an upward trajectory, existing players were still funding assets - furniture and appliances - with their own money. It was then that Guarented came up with a unique Crowdfunding Model - after constant, brainstorming and innovative thinking - where it was decided that the rental assets could be purchased from another person’s investment in return for guaranteed high returns. Crowdfunding took care of several things which were hitherto difficult, buying assets, scaling up and making them affordable to students and young professionals.

Crowdfunding for this business model wasn’t an easy task. The team started out with educating VC’s and seeking investment. K-start by Kalaari capital was a very significant funding which gave Guarented a big push to take this forward. It took quite some convincing, developing interest, but overall the response has been very encouraging. There are many experienced businessmen and professionals investing their hard earned money today in Guaranted and today the company can proudly say that it has reached 1 crore worth of assets in just the last 2 years, with happy investors who are very satisfied with their returns on investment.

Guarented’s disruptive "Guarented Returns Plan" guarantees its investors an assured annual flat return on investment depending on the tenure and amount of investment. Therefore if an amount of INR 1 lakh is invested for a period of 1 year, investors stand to earn INR 20,000 on the invested amount by the end of the year.

The plan cycle involves a simple sign-up process, the investors are verified and renters credit checked before they can rent the assets.

In today’s fast paced, online-focused life, Guarented’s rental model backed by a well-proven crowdfunded model is not just sustainable but a win-win, for both the renter as well as investor. The investor invests his hard earned cash in an alternate investment instrument that is safe, secure, backed by physical assets and gives him a steady source of income on an ongoing basis.

This journey by Guarented embarked with long term goals and today the company has successfully been able to reach 5000 customers. On the other hand, a crowdfunding investment of worth 2.4 cr has fostered the business and taken it to a higher level. The balance of these two has ensured that the growth has been healthy and on an upward trend.

Today, Guarented is one of the leading rentals services in Bangalore and are working even more towards this direction to ensure customers get rewarded with best services.
Guarented Rentals
Priya Singh