Wednesday 11 January 2012

RentMyItems Look to Expand With Help From Crowdfunding

Despite having only been launched less than four months ago, the UK web startup, RentMyItems has already grown into a successful business and featured in many of the the country's national publications. Now the website, which allows people to rent their seldom used belongings, is already looking to expand its operations through an assortment of investments including crowdfunding through one of the UK's specialist platforms.

RentMyItems was launched in September 2011, to provide a platform individuals and organisations who are willing to share items with others, for a small rental charge. Browsers through the site can negotiate to rent anything from games and DVD's, gardening equipment, even clothing. In times of financial difficulties the renter can make extra money from their seldom used items and the rentee can save money renting the items they would otherwise have to buy. The business was built with funds of £40,000 raised through the founders' own personal finances as well as investments from friends and family. has recently been named as both one of ten ways to make/save money in 2012 (The Guardian) and one of the 40 best new websites that save you money (WebUser magazine). - Warren Heal, Founder/CEO RentMyItems
The rapid success of RentMyItems has created room for potential growth. The company is looking to raise £100,000 through the Angel Investment Network, in which anyone can invest sums of money from as little as £5,000. The remaining £50,000 will be sought from the UK crowdfunding platform Crowdcube, an online version of Dragon's Den providing a platform for budding entrepreneurs to secure funding from potential investors (or armchair dragons) in exchange for equity stakes. The money raised will be used to promote RentMyItems, as well as include new features such as a virtual notice board for people to post notices of items they wish to rent. For those looking to pledge an investment visit the Angel Investment Network or alternatively visit RentMyItems, Crowdcube funding page.

Image Credits; Brian Hawkins

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