Telerenta announces 3 million euros investment in 2024 and projects over 10,000 electronics rentals by year-end

The Romanian technology startup, Telerenta, which operates the only electronic equipment rental platform in Southeast Europe for home users and, since the end of last year, for businesses as well, has budgeted investments of approximately 3 million euros for 2024.

The investments will be directed towards platform development, user experience improvement, portfolio expansion with new products, international expansion, product stock, and marketing.

“2024 is a year of building and expansion for Telerenta, as our business model continues to attract more customers, both nationally and globally. There’s a growing demand for electronic equipment rentals, with the global rental market value exceeding 67 billion euros,” says Mădălin Ilie, CEO of Telerenta, noting that this growth is driven by an increased dependence on electronic products and innovations from manufacturers to remain competitive, along with a shift in consumer behaviour, both individuals and companies, who now prefer the flexibility and cost savings of renting electronic equipment over purchasing, as well as an increasing interest in sustainability and reducing electronic waste.

Telerenta closed last year with over 3,000 rented products and aims for a volume of over 10,000 rented electronic products in 2024, a more than threefold increase from the previous year.

Rentals to companies are also expected to rise this year. Although it only launched its electronic product rental platform for businesses at the end of last year, Telerenta forecasts that the B2B segment will account for approximately 20% of total revenue in 2024.

The international expansion plans target Telerenta’s presence in 3 countries in 2024, focusing on areas with strongly developed eCommerce ecosystems. In the first half of the year, Telerenta is considering expansion into Poland, with plans to start expansion efforts into a new country towards the end of the year.

Telerenta, part of the American investment group NCH (New Century Holdings), offers for rent TVs, laptops, mobile phones, tablets, gaming consoles, monitors, and desktops.

The company has developed its own technology that allows individual users and companies to rent electronic equipment for periods ranging from 3 to 24 months. Customers, thus, have continuous access to high-quality, cutting-edge equipment that can be used according to their needs.          

The rental process is flexible, allowing users to easily choose among the listed products on the platform and swap them for others with superior specifications at any time during the contract. At the end of the rental period, users can extend the contract or return the rented products.

Telerenta offers an alternative solution to purchasing electronic equipment outright or on installment plans and is aimed at all technology enthusiasts who do not wish or cannot afford to make a purchase, and those interested in continuously testing and using the latest electronic equipment.

The service provided by Telerenta has national coverage, with rented products deliverable anywhere in Romania.

Rental costs start at 39.99 lei/month for a flexible 24-month contract. Users can benefit from the advantages of the product and complementary services at monthly costs comparable to TV streaming platform subscriptions.

Delivery in RentBox

Furthermore, Telerenta provides the RentBox service to individuals and companies, the world’s first of its kind that allows for the immediate rental and instant pick-up of electronic equipment. Telerenta will have 20 RentBox vending machines in the next period, located in shopping centres in major cities across Romania.

Currently, there are 7 vending machine units available, which can also be used as lockers. Thus, the orders paced online can be picked up from the RentBox machines, if this option was selected at the time the rental was made.