By using the site, people can make a significant amount of extra money from items that currently sit unused, while renters can save considerable cash by avoiding large purchases for seldom used goods – a great value proposition in touch economic times
Nashville, TN (PRWEB) April 18, 2012
RentStuff.com,a community marketplace for rental goods, today announced the company has raised $660,000 in its first seed round funding effort. The round was led by Solidus Company, a leading early-stage investment firm based out of Nashville, TN with participation from Chattanooga Renaissance Fund and a small group of angel investors.
According to co-founder Christopher Jaeger, the new funding will be used to hire additional engineers, grow the rental platform, and expand into new cities. RentStuff.com plans to open an office in downtown Chicago at 1871, the new tech co-working space, in May.
“RentStuff.com is an impressive young startup in a very exciting space,” said Solidus partner Vic Gatto. “As part of the Jumpstart Foundry incubator program, the company has built incredible momentum in a short amount of time and is ready to expand its service to a wider market.”
The company is a 2011 graduate of the Jumpstart Foundry, a TechStars Affiliate Accelerator Program, created to mentor and develop high potential early stage companies. The website officially launched in August 2011 in Nashville. RentStuff.com then opened its platform to the wider US market in early January 2012 having concluded five months of limited beta testing.
“This funding is vital to growing our presence in large cities across the US such as New York, Chicago, Los Angeles, and San Francisco. It also enables us to strengthen and expand our current rental platform to support the innovations demanded by our rapidly growing user base,” said CEO Chris Jaeger.
RentStuff.com allows users to rent items to and from others nearby. Users can also post items for others to rent or search for items they want to rent in a given area. The site handles payments, security deposits, and rental agreements. Individuals determine the rental price and meet up in person to exchange the item.
“By using the site, people can make a significant amount of extra money from items that currently sit unused, while renters can save considerable cash by avoiding large purchases for seldom used goods – a great value proposition in touch economic times,” Jaeger said.
“It truly is an incredible time to be in the collaborative consumption space,” said Jaeger. “The success of companies such as Airbnb, Zipcar, and Getaround suggests that the sharing economy is more than just a trend. Ironically, technology is bringing people back to the days where we used to share and barter on a community level. At RentStuff.com, we look forward to providing an incredible service to our members and becoming the go to name in the peer to peer rental marketplace.”
RentStuff.com is an enhanced aggregator and marketplace of all of the available rental items in a city from both individuals and businesses. The web-based platform connects renters and lenders of consumer goods in a more efficient manner than traditional alternatives. Unlike the traditional process of finding a rental shop in an area through physical listings, online search engines or using Craigslist, RentStuff.com empowers communities to provide access to each other’s seldom used items in order to make extra cash or save money from avoiding large purchases.
The site is open in all major cities across the United States. RentStuff.com handles secure payments using credit cards, and security deposits protect items in case there is damage. Creating an account and listing items are both free. Popular rental categories on the site include outdoor goods, clothing and accessories, vehicles, photography equipment, event rentals, and electronics.
For Media Inquiries, contact media (at) rentstuff (dot) com or visit http://www.rentstuff.com/home/media.