RentoMojo, a startup that allows customers to lease furniture, appliances and bikes, today said it will now offer a similar service for high-end mobile phones like Apple’s iPhone X, Samsung’s Galaxy S9+ and Google Pixel 2 through its platform.
This new service, it expects, will help bring in more customers to its platform and increase transaction volumes as well, according to RentoMojo founder and CEO Geetansh Bamania.
“Consumers can now subscribe to or obtain smartphones on lease, through our RMI (Rental Monthly Instalments) system, as opposed to purchasing and owning,” he said.
The company currently offers smartphones from brands like Apple, Google and Samsung on monthly rentals starting from Rs 2,099 up to Rs 9,299 for a period of 6, 12, 18 and 24 months.
Bamania said the company is also in discussions with other players to make more devices available on its platform.
The service is currently available in Bengaluru, Delhi, Gurgaon, Mumbai and Noida and will be expand to Chennai, Hyderabad and Pune in the next quarter, he said.
“This arrangement offers the perfect opportunity to users to upgrade and keep up with the latest device innovation, frequently and at a significantly lower cost. In addition, a subscriber also has the option of owning the product by paying a certain sum, post the lease period,” Bamania said.