Flent Aims to Revolutionize India’s Urban Rental Market With Rs 6.5 Crore Funding

In a major development aimed at transforming India’s rental sector, proptech startup Flent has raised Rs 6.5 crore in a pre-seed funding round. The round was led by WEH Ventures, with participation from US-based 2 AM Ventures and Pareto Holdings. Additionally, high-profile angel investors, including Sanchan S Saxena (Ex-GM, Airbnb), Aneesh Reddy (Founder, Capillary Technologies), Arjun Vaidya (Founder, Dr. Vaidya’s), Shradha Sharma (Founder, Your story), and Abhilash N (Co-founder, Ivy Homes), also contributed.

Flent’s Mission: Raising Renting Standards in Urban India

Flent’s primary goal is to address the challenges renters face in India’s urban areas. The newly raised funds will enable Flent to expand its core team and develop India’s first full-stack renting platform. This platform aims to streamline the rental process for the growing population of young working professionals, making it 10 times faster and easier.

“People compromise on so many things when it comes to renting—settling for outdated & unfurnished homes, hefty deposits, subpar brokers, and one-sided terms.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 of Flent.

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The Founders: Driving Innovation in the Rental Space

Flent was founded by Shail Daswani, Mayank Lalwani, and Rishabh Agnihotri, who share a vision of transforming India’s outdated rental market. Flent is positioned as India’s first on-demand renting platform, offering a seamless experience for both renters and homeowners.

For renters, the process is simple: they sign up, share their preferences, and pay a refundable booking fee. Within 15 days, Flent provides them with a fully furnished, designer home, with minimal deposit requirements and no brokerage fees. If satisfied, they can move in immediately; if not, they receive a full refund. For homeowners, Flent manages the entire process, from property acquisition to transforming homes into turnkey rentals.

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A Growing Market Presence

Since its launch in October 2023, Flent has rapidly gained traction in the Indian rental market. The startup has launched 120 rooms across Bangalore, ranging from 1 BHKs to 3 BHKs, all of which were rented out within 10 days of launch. With a waitlist of over 500 people and consistently achieving 100% occupancy rates, Flent has demonstrated that its full-stack model is resonating with both renters and property owners.

Rohit Krishna, General Partner at WEH Ventures, described Flent as an experience-led broker that doesn’t charge traditional 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,” said Krishna. He further compared Flent’s potential impact to the disruptions brought by Amazon, Myntra, Swiggy, and Ola.

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Addressing a Fragmented Industry

India’s urban rental market, valued at $10 billion, remains highly fragmented, often focusing on sales rather than providing a positive rental experience. According to Hershel Mehta, Managing Partner at 2 AM VC, Flent is perfectly positioned to tap into this growing space. “Young Indians want hassle-free, high-quality homes, and Flent is uniquely positioned to meet this demand,” Mehta said. His comments reflect a growing desire for platforms that can streamline the rental process and prioritize customer satisfaction.

Conclusion

As India’s urban centers expand, there is increasing demand for modern, convenient, and hassle-free rental solutions. Flent’s full-stack platform not only addresses the pain points of the current rental system but also offers a glimpse into the future of renting in India. By leveraging technology and a customer-centric approach, Flent is set to become a leader in the proptech space, setting new standards for the rental experience across the country.

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With its recent funding and vision for market disruption, Flent is well on its way to revolutionizing how urban India rents homes, making the process as seamless and efficient as possible.