An English, Airbnb-style platform for sharing household items says it has secured a major springboard for growth north of the Border with the acquisition of a family-focused Edinburgh peer.
Essex-based RentMy, which lets users hire and rent out everything from bikes to tools and cameras to sewing machines, has snapped up Scottish platform Pa-rent, an early-stage firm aimed at parents who want to rent out or borrow baby equipment and family items. Terms of the deal have not been disclosed.
RentMy says that, amid the cost-of-living crisis, householders are looking for a cheaper way to access the things they need, and make money from what they already own. The deal also comes as the "sharing economy" economic model espoused by the likes of Airbnb gains major traction.
Pa-Rent describes itself as a community of families who have come together online to share resources, letting users borrow or hire out, say, a bouncy castle or gazebo for one day, a bike for the week, or a pram for six months. It also explains: "Going on holiday and don't want to pack a load of bulky baby equipment? Pa-Rent it at your destination. Thinking about buying an expensive pram but want to try it out first? Pa-Rent it. Need a Jumperoo for three months? Pa-Rent it. Want to try snowboarding and don't own a board? Pa-Rent it."
It adds: "Our purpose is to make life easier for families, whilst providing a sustainable alternative to unnecessary consumerism. Think it's a bit crazy to borrow from a stranger online? The world said the same about renting out a room in your house to a stranger, but we all know how that turned out."
Tom West, chief executive of RentMy.com, which he founded in June 2020, said: "We're really excited to have this opportunity to establish ourselves in Scotland. Pa-rent has a great community of sharers in Edinburgh, and we are pleased to now expand both Edinburgh and RentMy communities to be the UK's leading rental marketplace. This is a significant step in RentMy's growth, and we look forward to working with the Pa-rent community to continue the change for a better and shared future."