INSUBCONTINENT EXCLUSIVE:
Fat Lama, the startup that offers a fully insured peer-to-peer rental marketplace for almost anything, is getting a little fatter
used items, Fat Lama was conceived in early 2016 after the experience its founders had renovating an office space in London
side of town, during working hours, to pay a premium for commercial hire
rental startups had failed, the team figured out that a number of problems beyond simply matching supply with demand would need to be solved
Traditional rental companies typically require the borrower to leave quite a large cash deposit in case an item is broken, lost or stolen
fully insure each item rented for an amount up to $30,000, something Englander tells me took nine months to secure and is a major
differentiator from competitors
keen to protect even as the company scales
Currently lenders and borrowers hand over and collect items in person, where they often share expertise on how to get the most out of an
obvious demographic is creative professionals, such as DJs, music producers, filmmakers, photographers and art directors, all of whom have
notes Englander.Meanwhile, after a successful launch in New York earlier this year, including seeing more than 6,000 items listed on the
site (supply in New York is said to be growing more than three times as fast as it originally did in London), Fat Lama is planning to use
the new Series A funding to further grow across the pond
As part of this effort, the U.K
city managers, as well as investing in its product, engineering and operations teams back in London.
