VC Fund Investments
B2B rental services startup Settlrs raises $1-M from Canbank Venture Capital, others
Bengaluru-based B2B services rental startup Settlrs has raised USD 1 million (over INR 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors. Other investors who participated include Vinod Jain Family Office, MaGeHold Pte Ltd, JN Capital and another angel investor. The company, incubated at NSRCEL, IIM Bangalore (IIMB), will use the funds for business expansion into other cities and to build a fintech platform that connects users and helps vendors deploy assets into the rental ecosystem seamlessly. The funds would also be used to expand into new portfolios. Settlrs claims to have rented out more than 35,000 assets, such as furniture, home appliances, fitness equipment and IT infrastructure, across over 50 businesses in 15 cities.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
