The Sharing Economy is revolutionizing the way we work today! Coming right from a talk with CNBC, Shruti Ajmera Reddy our Founder at RentSetGo -the only Indian company to be a part of this interview- tells you how it all came about!
“RentSetGo came out of a personal pain point and evolved into something really massive looking at the rate at which we are growing today! We wanted to head out for a biking trip, we didn’t know what bikes to buy and what kinds are available in the market and the price points were insanely high for us to do it ourselves.” This is what pushed her to set foot into a market that’s valued today at 15 Billion Dollars and expected to grow to 335 Billion Dollars by 2025.
Talking about how the market in India would adapt to such a system she believes that renting has always been a latent need in a value conscious economy like India.
Having started its operations already in Mumbai and Pune, when asked if expansion is on the cards she says “Geographically we are looking to enter in Tier 1 and Tier 2 cities, specially cities that are hub spots for tourism”
Sharing economy or sharing as a concept is not new, it has been around for ages Shruti explains. Trust in such a scenario works as a prime factor that drives companies such as AirBnb, Uber, etc. in the sharing economy space. So how do they do it? By leveraging technology to build a platform that identifies behavioral patterns among its users. She says “using data analytics, we map consumer behavior on our platform, we then assess and assign an internal credit score and based on that we carry out inspections and transactions.”
With already receiving more than 1000 app downloads in just a few weeks and a 300% month-on-month growth, RentSetGo is definitely out to prove a point “Sharing Economy is here to stay!”
Catch the exclusive interview here: http://video.cnbc.com/gallery/?video=3000442048