Polish marketplace Plenti raises €5M to rent out electronic devices

Warsaw-based startup Plenti has raised €5 million in fresh seed funding to build a rental marketplace for electronic devices. 4growth VC and Montis Capital joined in the round, also supported by NCBR Investment Fund ASI, AIN.Capital was told.

• Founded in 2018 by Karol Klimas, Wojciech Wójtowicz, and Wojtek Rokosz, Plenti develops a marketplace that allows consumers to rent electronic devices on a short-term lease. The platform offers items ranging from phones, smart watches, and laptops to air purifiers, autonomous vacuum cleaners, coffee machines, Starlink terminals, and pizza ovens.
• Customers can rent the devices for up to 12 months through a subscription service. According to Plenti, the most popular categories of rental are gaming consoles and VR headsets, which can be quite expensive to buy.
• Polish venture capital funds 4growth VC and Montis Capital are among the main investors in this round. 4growth is a Warsaw-based early-stage venture capital firm focusing on fintech and insurtech startups from the CEE region.
• Montis Capital is also a Warsaw-based VC investing in industry 4.0, IoT, life science, and biotech. Poland’s state-owned investment vehicle NCBR Investment Fund ASI also supported the startup.

“We are planning expansion across Europe, but not right now. We still have a lot to do to win Poland and to fine-tune our tech and processes in order to be able to conquer new markets. It’s definitely not going to happen this year, and it’s still too early to discuss details and possible directions,”

Wojtek Rokosz, the CEO and cofounder of Plenti, commented to Sifted on further plans.

• Plenti will use the fresh funds to continue the rollout of its offer for entrepreneurs and businesses to supply the marketplace with their equipment. It also wants to expand its 40-people team with developers, risk assessment specialists, and a credit analyst.