Innovative Stafford-based rental technology business Renticy has secured £300,000 in the first deal completed by a new investment fund focused on Staffordshire.
Renticy, founded by Rob Flowers in 2024, has received the funding from Momentum VC, launched earlier this year by entrepreneur Mo Chaudry.
Renticy provides a digital platform that enables retailers to offer product trials and rentals at the point of sale, giving customers the option to buy, rent and return goods.
It says more than 100 businesses and brands are using the system across sectors including outdoor equipment, music, sport, cycling and menswear.
The funding will be used to support Renticy’s next stage of growth, including the onboarding of larger retail partners. A spokesperson for Mo Chaudry said the deal gave him a share in Renticy as the company’s second-biggest investor.
Rob Flowers said access to capital remained one of the main barriers facing entrepreneurs seeking to scale a business.
He said: “As we enter this growth phase, the investment will help accelerate our plans, create new opportunities and support the onboarding of new flagship retail partners.”
Momentum VC was established in February with £5 million of Chaudry’s personal capital and is targeting early-stage and growth businesses in Stoke-on-Trent and Staffordshire. The programme is supported by Staffordshire Chambers of Commerce.
Mo Chaudry said Renticy had been selected because of its business plan, growth ambitions and potential to operate internationally.
He said: “Just as importantly, Rob has shown total commitment and conviction in his ambition to build Renticy into a worldwide enterprise.
“When we invest, we invest in people as well as businesses, and I believe in both Rob and his company.
“I’m excited to see what happens next. I genuinely believe Renticy has the capacity to become a global business and I’m looking forward to being part of that journey.”
More than 140 businesses expressed interest when the Momentum fund was launched. Further investment rounds are expected as it assesses other Staffordshire companies.
