Rentoza Secures $6 Million in Funding From Alitheia IDF and Vumela Ent Skip to content
Rentoza Secures $6 Million in Funding From Alitheia IDF and Vumela Enterprise Development Fund to Accelerate Growth and Expansion

Rentoza Secures $6 Million in Funding From Alitheia IDF and Vumela Enterprise Development Fund to Accelerate Growth and Expansion


Rentoza, a South African-based online subscription platform, recently secured a significant boost in funding with investments totalling $6 million from two prominent funders. The funding round was led by Alitheia IDF and included the Vumela Enterprise Development Fund. 

According to Aviraag Ramdhani, Co-Founder at Rentoza, this capital injection is set to revolutionise the e-commerce landscape through subscription in South Africa and on the African continent as it facilitates the company’s ambitions for market expansion and innovation.

Alitheia IDF is a women-led and women-focused private equity fund focused on growing businesses and building African communities. Over the years, Alitheia IDF has invested in a wide range of businesses across the African continent such as Sweep South and Jetstream. 

Echoing Ramdhani’s sentiments on Rentoza’s potential, Pyi Maung, Investment Manager IDF, says: “Alitheia IDF saw a strong and complimentary team of founders who have managed to scale the business efficiently with every capital raise. AIF understood the need for Rentoza’s offering in the South African market and how it has already impacted the lives of people in a positive way, especially for women.” 

The Vumela Enterprise Development Fund was established in 2009 by FNB Commercial and Edge Growth and is managed by Edge Growth Ventures. The funder has been at the forefront of fostering growth and sustainability in black-owned “missing-middle” SMEs. 

Speaking to why Vumela decided to invest in Rentoza, Sam Tennant, partner at Edge Growth Ventures, says Rentoza provided the attractive combination of a large market opportunity supported by an innovative scalable solution and an exceptional management team.

Additionally, Mike Sage, FNB’s CEO of Structured Lending Solutions and a Vumela Trustee says: “Our participation in this funding round was to assist and help unlock Rentoza’s growth potential. Rentoza is part of a market segment which we believe is a catalyst for economic growth in our country.”

Ramdhani says these investments are a testament to the impact of Rentoza’s vision having secured funding from two respectable and renowned funders. 

“With this capital injection, we will propel our growth trajectory and allocate resources to crucial areas of the business,” says Ramdhani. “The funds will be deployed for asset purchases, marketing campaigns, talent acquisition, and capital projects, including the highly anticipated expansion.” 

With the support of Alitheia IDF and Vumela, Ramdhani believes Rentoza is well-positioned for continued success. “Our growth initiatives and expansion plans will drive transformative change in the South African economy and beyond, creating accessible and flexible shopping experiences for consumers across the continent. Real access is finally coming to the continent,” Ramdhani concludes. 

Related Posts

Metro Interview: Is E-commerce the Future?
May 23, 2024
Metro Interview: Is E-commerce the Future?

Rentoza co-founder Mishaan Ratan talks to Metro FM about the ffuture of e-commerce and the biggest trends to expect.

Read More
Rentoza on the Talking Success Podcast
October 25, 2023
Rentoza on the Talking Success Podcast

Rentoza COO Chris Govender appeared on the Talking Success podcast with Darren Franks. Find out...

Read More

Download it.

Rentoza it.

Our Stores

Retail Store Locations

Rentoza Cresta Shopping Centre

Monday – Saturday: 09:00 – 19:00
Sunday & Public Holidays: 09:00 – 17:00

Clearwater Mall

Mondays - Thursdays: 09:00 – 19:00
Friday: 09:00 – 21:00
Saturday: 09:00 – 19:00
Sunday: 09:00 – 17:00
Public Holidays: 09:00 – 19:00

Southgate Mall

Mondays - Thursdays: 09:00 – 18:00

Friday: 09:00 – 19:00

Saturday: 09:00 – 18:00

Sunday: 09:00 – 16:00

Public Holidays: 09:00 – 16:00


Mondays to Saturdays : 09:00 – 19:00
Month End Friday and Saturday 9am-20pm
Sunday: 09:00 – 17:00
Public Holidays: 09:00 – 17:00

Wonderpark Shopping Centre

Mondays - Fridays: 09:00 – 19:00

Saturday: 09:00 – 17:00

Sunday: 09:00 – 15:00

Public Holidays: 09:00 – 17:00

N1 City

Monday - Sunday: 09:00 - 19:00

Drawer Title
Similar Products