Proptech startup Flent raises Rs 21 Cr to expand premium housing rental platform

The round includes Rs 17 crore in equity and Rs 4 crore in debt and was led by Incubate Fund Asia, with participation from WEH Ventures, Twin & Bull Family Office, Stride Ventures, 91Ventures, Untitled VC and a group of angel investors including Rajesh Yabaji, Co-founder and CEO of logistics platform BlackBuck. More than 40 of Flent’s own landlords and tenants have invested about Rs 1 crore in the round.

Founded in October 2023 by Mayank Lalwani, Rishabh Agnihotri and Shail Daswani, Flent operates a network of fully furnished rental homes aimed at urban professionals. The company handles design, furnishing, tenant onboarding, and ongoing maintenance, while offering landlords a rent-guaranteed, managed-property model.

Flent plans to use the fresh capital to scale its team, expand its footprint beyond Bengaluru, and launch operations in markets such as Mumbai and Gurgaon. It is also looking to develop tools across the rental lifecycle, including tenant matching and vacancy management.

The company currently manages about 350 rooms across 140 homes in Bengaluru, primarily in the premium segment, and reports occupancy levels of 90–95%. Customers stay on the platform for an average of 14 months, according to the company.

India’s rental housing market, especially in large cities, is dominated by fragmented supply, high security deposits, and broker-led transactions. Flent is targeting a growing cohort of salaried professionals seeking move-in-ready homes with flexible terms, as well as investors—including NRIs—who own high-value residential properties but lack the ability to manage them remotely.

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Transforming renting: How Flent is changing the game in premium rental housing

“We are building a more organised way for people to rent premium homes and for owners to operate them as long-term assets,” said Shail Daswani, Co-founder and Chief Executive of Flent.

Rajeev Ranka, Managing Partner at Incubate Fund Asia, said the firm backed Flent for its focus on end-to-end execution. “The company is building a technology-led platform that improves the experience for both tenants and property owners, while also solving for operational complexity in property management,” he said.

Flent is focused on homes typically valued at above Rs 1.5 crore, a segment where ownership is increasingly investment-driven and professional management is in demand. The company expects to grow its supply base as it enters new metro markets over the coming year.