# Rentoza

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rentoza-pty

- Industry: Consumer Products
- Headquarters: Rosebank, South Africa
- Website: www.rentoza.co.za
- Total disclosed funding: $6M
- Latest round: Series A (Aug 31, 2023)
- Investors on record: 2

## About

Based in South Africa, Rentoza Pty Ltd operates as a subscription-based service offering consumer electronics and household appliances, allowing customers to enjoy flexibility and convenience without the burdens of ownership.Rentoza Pty Ltd was established in 2017 and is headquartered in Rosebank, South Africa. The company operates as South Africa’s first subscription-based product service, providing a variety of electronics and household appliances. The founders, Avinesh Reddy and Chris Govender, have prior entrepreneurial experience. Rentoza has successfully completed 2 funding deals, with the latest, a Series A round, occurring on August 31, 2023, where it raised USD 6.00 mn led by Alitheia IDF Managers and the Vumela Enterprise Development Fund.Rentoza operates as South Africa’s first subscription-based product service, providing a diverse range of consumer electronics and household appliances through a flexible subscription model. The core offerings include smartphones, laptops, televisions, fitness equipment, and baby gear, all available on subscription. This model allows users to avoid ownership burdens, enabling them to subscribe, enjoy, and easily transition to newer products. Utilizing a proprietary non-credit verification system, Rentoza caters to budget-conscious consumers who find traditional credit checks limiting, enhancing accessibility to technology across demographics.Rentoza generates revenue primarily through its subscription service, where customers pay a monthly fee for access to a wide array of electronic devices and appliances. The subscription model allows customers to select their payment date and provides flexibility to upgrade or downgrade products without penalties. Each subscription includes Rentoza Protect, which covers loss, theft, or damage. Pricing plans vary by product, with offerings such as the Apple iPad 9th Gen available for R 660.00 per month and Samsung televisions starting at R 199.00 per month, fostering a direct-to-consumer model.In August 2023, Rentoza raised USD 6.00 mn in Series A funding, led by Alitheia IDF Managers and supported by the Vumela Enterprise Development Fund. The company plans to utilize this funding to expand its business through acquiring talent, enhancing marketing initiatives, and investing in new projects. Future growth will focus on launching new product lines and expanding into additional geographic regions to broaden its market reach.

## Funding rounds

- Series A, Aug 31, 2023, $6M — Alitheia IDF Managers, Vumela Enterprise Development Fund

## Investors

- Alitheia IDF Managers (https://capitalatlas.ai/funds/alitheia-idf-managers) — Series A
- Vumela Enterprise Development Fund (https://capitalatlas.ai/funds/vumela-enterprise-development-fund) — Series A