Proptech Startup Flent Bags INR 6.5 Cr Funding

SUMMARY

Led by WEH Ventures, the round also saw participation from 2 AM Ventures, Pareto Holdings and a host of other angel investors

The Bengaluru-based startup plans to use the fresh capital to expand its core team and develop India's first full stack renting platform

Founded in October 2023, Flent claims to offer fully furnished homes with zero brokerage within 15 days of sign up

Urban renting-focused proptech startup Flent has raised INR 6.5 Cr in a pre-seed funding round led by WEH Ventures.

The round also saw participation from 2 AM Ventures, Pareto Holdings and a host of angel investors, including Atlassian’s senior vice president Sanchan S Saxena, Capillary Technologies founder Aneesh Reddy, Dr. Vaidya founder Arjun Vaidya, YourStory founder Shradha Sharma, and Ivy Homes founder Abhilash N.

The Bengaluru-based startup plans to use the fresh capital to expand its core team and develop India’s first full stack renting platform.

Founded in 2023 by Shail Daswani, Mayank Lalwani and Rishabh Agnihotri, Flent allows customers to move into fully furnished homes within 15 days of signing up, with zero brokerage.

“People compromise on so many things when it comes to renting—settling for outdated and unfurnished homes, hefty deposits, subpar brokers, and one-sided terms.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

Since its launch, Flent claims to have listed 120 rooms across Bengaluru, ranging from 1 BHKs to 3 BHKs. The company claims all units were rented within 10 days of launch.

“We already have a waitlist of over 500 people and have consistently achieved 100% occupancy,” Daswani said.

Flent aims to make a mark in a competitive proptech market, which includes several established and legacy players, including Zolo Stays, Settl and Nestaway, which was acquired by Aurum PropTech for INR 90 Cr in June 2023.

The proptech sector in India has been seeing significant investor interest recently. Earlier this month, JUSTO Realfintech raised $7 Mn from Arbour Investments, while HouseEazy secured $7 Mn in Series A funding led by Chiratae Ventures in August.

In July, Jugyah raised $1.5 Mn in seed funding co-led by White Venture Capital, QED Investors, and Godrej Properties. Settl, earlier this year, raised INR 10 Cr in its pre-Series A round, while reporting a two-fold revenue jump to INR 16.75 Cr in FY23.