Bengaluru-based proptech startup Flent has successfully secured ₹21 crore (approximately $2.5 million) in a Pre-Series A funding round. The investment was led by Incubate Fund Asia, with participation from a diverse group of institutional and angel investors, signaling a major shift toward institutionalizing India’s fragmented rental market.
The round comprised ₹17 crore in equity and ₹4 crore in debt. Investors include WEH Ventures, Twin & Bull Family Office, Stride Ventures, 91Ventures, and Untitled VC. Notably, the round saw a rare show of community confidence, with over 40 landlords and tenants from the Flent platform collectively investing ₹1 crore.
Redefining Urban Living: The Full-Stack Model
Founded in October 2023 by Mayank Lalwani, Rishabh Agnihotri, and Shail Daswani, Flent aims to make renting as seamless as booking a ride-share. The platform offers fully furnished, move-in-ready homes with flexible lease terms, effectively removing the traditional pain points of high brokerage fees and exorbitant security deposits.
Flent’s “full-stack” approach manages the entire property lifecycle:
-
Design & Furnishing: Transforming high-value apartments into designer living spaces.
-
Tenant Screening: Ensuring high-quality occupancy through rigorous vetting.
-
Maintenance & Assurance: Handling upkeep and providing rent assurance to homeowners.
High Traction and Market Demand
The startup’s model has already shown significant proof-of-concept in Bengaluru. Currently, Flent manages:
-
350 rooms across 140 premium homes.
-
90–95% occupancy levels, significantly higher than the industry average for standalone rentals.
-
14-month average customer stay, indicating strong user loyalty and product-market fit.
Expansion to Mumbai and Gurugram
With the new capital, Flent plans to scale its operations to Mumbai and Gurugram, two of India’s most expensive and complex rental markets. The company is also doubling down on its technology suite, with plans to launch:
-
Flatmate Discovery: A tool to help young professionals find compatible co-living partners.
-
Vacancy Protection: A safety net for landlords to ensure consistent income.
-
AI-led Discovery: Tools to help tenants find the right locality and budget based on individual requirements.
“We are irreversibly changing how affluent India experiences renting, and this investment is the jet fuel for that transformation,” said Shail Daswani, Co-founder and CEO of Flent.
By: Vanshika Tayal
