The funding was led by Incubate Fund Asia, with participation from Twin & Bull Family Office, Stride Ventures, 91Ventures, Untitled VC, and WEH Ventures
Bengaluru-based proptech startup Flent has raised INR 21 Cr (about $2.3 Mn) in its pre-Series A round led by Incubate Fund Asia, with participation from Twin & Bull Family Office, Stride Ventures, 91Ventures, Untitled VC, and existing investor WEH Ventures.
The funding round also saw participation from a host of angel investors, including Blackbuck cofounder and chief executive Rajesh Yabaji.
The funding consisted of equity of INR 17 capital and a debt of INR 4 Cr.
Flent plans to deploy the funds to scale its team and expand its footprint beyond Bengaluru by launching operations in markets like Mumbai and Gurugram.
Founded in 2023 by Daswani, Mayank Lalwani and Rishabh Agnihotri, Flent offers fully furnished, designer rental homes tailored for young working professionals. It takes a full-stack approach, streamlining the rental experience for tenants while also managing the properties for homeowners. It claims to charge zero brokerage, “minimal deposits”, and offer flexible terms.
The startup claims to have grown to 150+ homes, accommodating 360 residents, while it holds a waitlist of over 1,000 people.
Flent’s target customers are working professionals in metro cities. Currently, high brokerage fees, steep security deposits, and unfurnished or poorly maintained spaces make the process of finding a decent rental home expensive and exhausting for urban migrants.
Flent said it is aiming to capitalise on the estimated 20 Lakh white-collar professionals seeking quality dwelling spaces across India’s five major cities. This premium rental market is expected to become INR 40,000 Cr market in the next five years.
Prior to this, the startup raised $1.3 Mn from investors such as WEH Ventures, 2 AM Ventures, Pareto Holdings and others.
Flent competes with the likes of Zolo Stays, Settl and Nestaway in the Indian proptech space.
Curated by Aisha Patel
