RentoMojo Partners With Zefo to Boost Their Leasing Program

Team Udayavani, Apr 18, 2018, 5:49 PM IST

Bengaluru: The new and innovative RMI model offers one-of-a-kind opportunity for shoppers.

Fintech leasing pioneer RentoMojo [https://www.rentomojo.com ] recently joined hands with Zefo [https://www.gozefo.com ] , the online marketplace for pre-owned furniture and appliances, to provide their customers with an option of hassle-free ‘Rental Monthly Instalments – RMI [https://www.rentomojo.com/lp/zefo ] ‘ to pick the product of their choice.

With the company’s firm belief in the motto that leasing as a value-proposition is stronger than lending, its strategic collaboration with Zefo is expected to open newer doors for the latter’s customers while empowering them with the choice to rent.

The reason being, this RMI offering is a first-of-its-kind innovative model where a shopper can now lease their favourite product from Zefo’s website instead of purchasing it right away or on the traditional EMI pattern. All they must do is select the rental tab and tenure, which ranges from six to twenty-four months during checkout, to avail this option and get their favourite product from Zefo delivered at their doorstep.

Geetansh Bamania, Founder and CEO, RentoMojo says, “We are thrilled to partner with Zefo to put forward our latest offering of RMI in the market. And with this monumental transition RentoMojo aims to move towards the fintech industry while carving a niche for ourselves in the consumer lending space.” 

“We realized that a section of consumers values the convenience of renting over ownership and were keen to tap into this market. We are thrilled to partner with RentoMojo and leverage Zefo’s unique operational expertise to offer the lowest rentals on the widest range of products in the market”, said Rohit Ramasubramanian, CEO, Zefo.

To conclude, this one-of-a-kind collaboration between RentoMojo and Zefo, will be a game changer in the fintech and consumer leasing space as it’s not just innovative but also understands the needs of today’s youth who opt to pay as they use, rather than buying.

About RentoMojo: 

RentoMojo is a first-of-its-kind consumer leasing business started in 2014 by Geetansh Bamania with a vision to provide credit infrastructure that evolves and adapts to people’s changing lifestyles. Headquarter in Bangalore, RentoMojo has operations across eight cities in the country – New Delhi, Noida and Gurgaon, Pune, Hyderabad, Mumbai and Chennai. The company also offers lease for furniture, appliances, and bikes along with a wide array of choices like Rental Monthly Instalments (RMI), Rent to Own and Return at Will.

About Zefo: 

Zefo currently offers its services in Bengaluru, Delhi, Gurgaon, Noida, Mumbai, and Hyderabad with a catalogue of 15,000+ products across categories like beds, sofas, dining sets, wardrobes etc in furniture, TVs, washing machines, refrigerators and air conditioners in appliances, and mobile phones. Zefo has served 250,000 customers since its inception in 2015.

Zefo is co-founded by Rohit Ramasubramanian and Karan Gupta, who most recently worked at Helion Venture Partners along with Himesh Joshi, who worked at the Boston Consulting Group – all Indian Institute of Technology graduates – and Arjit Gupta, from the Indian Institute of Information Technology, Allahabad, who worked at Amazon and Flipkart before starting Zefo.