Romanian Technology Startup Launches Automated Platform for Renting and Delivering Electronic Equipment to Home Users

The Romanian technology startup, Telerenta, is launching the only electronic equipment rental platform in Southeast Europe for home users. The company is part of the American investment group NCH and plans several financing rounds of several tens of millions of euros to expand the business in Romania and Europe over the next 5 years.

The startup has developed its own technology that allows individual users to rent electronic equipment (for starters, TVs) in the form of a subscription, for a period between 3 and 24 months. Thus, it offers those interested the opportunity to have permanent access to high-quality, state-of-the-art equipment that can be used according to their needs.

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.

“We launched Telerenta in the context of the 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. 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”, says Mădălin Ilie, CEO of Telerenta.

How it works

Users choose from the products listed on the site the ones they want to rent and add them to the cart. Afterwards, they select their rental period, after which they place the order and make the payment for the first month of rental.

Remote customer identification and electronic contract signing follows. 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 49.99 lei/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 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.