Rent-a-TV: Romanian tech startup launches first automated platform in SEE for renting electronic equipment
Romanian technology startup Telerenta has launched the only electronic equipment rental platform in Southeast Europe for home users. The company, which is part of the American investment group NCH, plans to raise “tens of millions of euros” through several financing rounds to expand the business in Romania and Europe over the next five years.
Telerenta has developed its own technology that allows individual users to rent electronic equipment (for starters, TVs) based on a subscription, for a period between 3 and 24 months. It offers interested clients the opportunity to have permanent access to high-quality, state-of-the-art equipment that can be used according to their needs.
Telerenta presents itself as an alternative solution to the purchase of electronic equipment with full payment on the spot or in installments and targets all those interested in technology, but who do not have the possibility to access it and those interested in testing and using the latest electronic equipment.
The entire rental process is flexible, users can easily choose from the products listed on the platform and can even replace them with higher specification ones at any time during the contract. Currently, users can choose from over 60 new TV models, under warranty, from current and popular ranges in the market, with diagonals up to 215 cm, from 5 leading manufacturers: LG, Philips, Samsung, Sony, and TCL.
“We launched Telerenta in the context of global trends and rapid technological advancement across various industries and sectors. Moreover, equipment leasing comes as a logical, natural evolution from the direct or installment purchase of electronic products. We have identified, in Romania alone, a market of approximately 500,000 people interested in renting electronic equipment,” said Mădălin Ilie, CEO of Telerenta.
“With Telerenta, anyone can rent a TV in minutes, even from their mobile phone. Moreover, shortly we are going to inaugurate a new logistics service for our customers, which we internally named <<Instant Delivery>>. For customers, Telerenta is the most flexible and simple way to enjoy the TV they want, which comes bundled with fast replacement services in case of failure and coverage of 80% of the cost in case of accidental damage,” he added.
Telerenta will introduce new categories of electronic and IT products in the portfolio in the second part of the year, along with after-sales services that bring additional value to rental service users. In the near future, Telerenta also aims to expand to foreign markets, mainly in the EU.
How Telerenta works
Users choose from the products listed on the site the ones they want to rent and add them to the cart. Afterward, they select their rental period, after which they place the order and make the payment for the first month of rental.
The next steps are remote customer identification and electronic contract signing. eKYC (Electronic Know Your Customer) identification is a fully automated process, offered by Qoobiss Romania, a leading European company in the field of digital identity verification solutions. Everything is done online in a few minutes, and the products will be delivered quickly by courier.
During the stage of using the products, payments will be made automatically, every month. Rental costs start from RON 49.99 (EUR 10) /month, for a flexible 24-month contract. Thus, a user can benefit from the advantages of the product and complementary services, the costs being comparable to or even lower than those of the subscriptions offered by the TV streaming platforms.
At the end of the rental period, the user will have the option of extending the contract or returning the products. At any time during the contract, the user has the possibility to replace the rented products with others with higher specifications.
Currently, the service offered by Telerenta has national coverage, the rented products can be delivered anywhere in Romania.
(Photo source: company photo)