Flent Secures Rs 21 Crore Funding for Proptech Development
Bengaluru-based proptech startup Flent has successfully raised Rs 21 crore (approximately $2.5 million) in a Pre-Series A funding round. This includes Rs 17 crore from equity sources and Rs 4 crore from debt. The funding round was spearheaded by Incubate Fund Asia, with additional participation from WEH Ventures, Twin & Bull Family Office, Stride Ventures, 91Ventures, Untitled VC, along with a number of angel investors, including Rajesh Yabaji, the co-founder of BlackBuck.
Furthermore, over 40 landlords and tenants who utilise Flent’s platform have collectively contributed Rs 1 crore as part of this funding initiative. The capital raised will be deployed to facilitate the company’s expansion beyond Bengaluru, with future markets including Mumbai and Gurugram. Flent aims to introduce new offerings aimed at enhancing the rental experience, such as flatmate discovery, vacancy protection services for landlords, and AI-powered tools for location and budget exploration.
About Flent and Its Offerings
Founded in October 2023 by Mayank Lalwani, Rishabh Agnihotri, and Shail Daswani, Flent is a comprehensive rental platform that provides fully furnished homes ready for immediate occupancy with flexible lease options. The company manages the entire lifecycle of rental properties which includes aspects like design, onboarding, tenant screening, maintenance, and rent assurance, all while eliminating the need for brokers and substantial security deposits.
Current Operations and Future Goals
At present, Flent oversees 350 rooms across 140 premium homes located in Bengaluru, achieving impressive occupancy rates between 90% and 95%. The company reports that the average duration of customer stays is about 14 months.
On the supply side, Flent is focusing on high-value residential properties that are predominantly owned by investors and NRIs, as the professional property management sector in this area remains relatively underdeveloped.