Rentennials, the Argentine platform that connects vehicle owners with drivers, expands its carsharing model to Peru. Backed by ProInnóvate, it aims to consolidate shared mobility in the region and projects tripling its growth this year.
Rentennials, a private vehicle rental platform founded in Mendoza in 2022 by Andrés Puebla and Gerardo Germanó, was selected by ProInnóvate Peru to receive a US$ 40,000 fund that will finance its entry into the Peruvian market.
The move comes in a context of accelerated carsharing growth in the region. According to data from Kushki and Statista, the carsharing industry in Latin America generated US$ 66.2 billion in 2022 and is estimated to have grown 18% in 2024. At present, Peru and Chile stand out among the markets driving this trend.
In Argentina, Rentennials, the "Airbnb for cars," facilitated transactions worth $ 600 million, bringing together more than 800 owners who, collectively, recorded earnings averaging $ 480 million, and operates in more than 10 cities. According to data provided by the company, it expects to triple its growth this year, expanding its operations in the United States, Peru, and Argentina. Rentennials aspires to contribute to shared mobility through the use of electric vehicles and the implementation of user and owner validation processes, in addition to offering a corporate rental service.
Rentennials works through a mobile app or web platform, offering a wide variety of search options for travelers, by usage time, location, and vehicle type, among others. Users must be over 25 years old, have a credit card with available balance for deductible blocking, and must take a photo of their driver's license, which must not be expired to avoid being rejected by the owner. The process is 100% paperless via PC or mobile, resulting on average in 20% to 40% savings compared to a traditional car rental, according to the company.
Rentennials' business model is based on charging 20% of the total reservation, while the remaining 80% is collected directly by the owner from the renter, either in cash or by bank transfer.
"The original idea behind Rentennials was to build a rental community for all kinds of products people own at home and rarely use, such as tools, camping gear, leisure items, sports equipment, and sound systems. But when we noticed that mobility around the world was changing and that in many places owning a car no longer made sense, we decided to focus exclusively on that niche," Germanó noted in a news article about the company's beginnings.
The selection by ProInnóvate Peru adds to a series of previous funding rounds, including a US$ 100,000 investment in platform development and the backing of Chilean fund AceleraLatam.
Read the full article: https://www.forbesargentina.com/negocios/el-airbnb-autos-levanta-capital-startup-mendoza-opera-estados-unidos-ahora-llega-peru-n68094
