Occasion rental e-commerce platform Gecko has raised $350,000 in a pre-Seed spherical led by the NSW government-backed Techstars program in Sydney.
Gecko is one in every of 12 startups chosen for the inaugural Techstars Tech Central accelerator program, which bought underway earlier this month.
US traders Goodwater Capital and Launch Home additionally backed the startups pre-Seed increase.
The inspiration for Gecko got here when cofounder Ben Kennedy was working for his mom’s wedding ceremony venue and take care of the frustrations and challenges of renting occasion gear. He got down to simplify the method in addition to enhancing the profitability of the rental firms concerned, creating a rental software program platform that delivers bookings in a fraction of the time of a historically paper-based trade.
The ecommerce web site additionally has extra options comparable to cross-selling, referrals and rebooking giving rental firms the flexibility to extend their income potential by as much as 50%.
Kennedy stated time is a crucial consider occasion planning planning, however not a precedence on the rental facet.
“Occasions are irritating, the entire technique of renting made it a lot extra painful,” he stated
“You’d ring up rental companies and whenever you lastly bought a maintain of them they’d ask you to ship them an e mail the place they’d get again to you 2-5 days later.”
Alongside cofounders Lal Birch, and Cody Fisher-Peel, they launched the product as a peer-to-peer market, earlier than seeing the better potential in collaborating with rental companies to enhance the client expertise.
Gecko now has a community of over 120 rental companies on its platform, together with Vibes AV & DJ Rent, with operator Oscar Jamieson saying it has streamlined administrative duties and elevated income by 50% within the six months since they started utilizing it
“One of the best half about working with Gecko has been the unparalleled customer support now we have acquired. The workforce listens to our suggestions and labored with us to tailor the platform to go well with our enterprise wants,” he stated
The Gecko workforce trio say they play to make use of the funds to broaden into different classes within the close to future.
NOW READ: The Techstars workforce – in their very own phrases – on what to anticipate in Sydney