It is a new age peer to peer rental platform that lets users rent out their unused items. 80% of items people own aren’t used more than once a month. There is all un-necessary spending happening. Mutterfly is trying to change this behavior through power of Sharing. Why buy items we need for one off use? Mutterfly lets people borrow what they need from people around them. And the best part is – people get rewarded for sharing those unused items in their house.
- Borrow Instantly & Save Money: Say good bye to unnecessary spending
- Lend & Earn: Your item, your price. Earn each time you share.
- Try Before you buy: Debating whether to buy a product? Rent and try it out before making an impulsive purchase.
THE EUREKA MOMENT
Mutterfly was started in May 2015 as a food sharing platform. A banker at Morgan Stanley in London, Akshay was tired of cold meals on the go. The long hectic hours at an investment bank robbed whatever little flavor the fast food and Subway sandwiches contained. To this Akshay Bhatia says – “I would wonder why I pay five pounds for a sandwich which is cold and prepared in bulk and does not suit my taste,” recalling his struggles to find a decent affordable meal daily.
He decided to build a platform for sharing food with his colleagues. The habit and practice of sharing are more within the Asian community. So, he came up with the idea in India.
The main motive was to connect people for one thing that all people love that is food. People could request dishes from the neighbours and at the same time home chefs could list their specialty and could make them commercially viable.
As this business progressed the team started getting requests from home chefs regarding the need of kitchen items. So, that was the time when the founder Akshay Bhatia realized about the need of the society. That was the eureka moment for the founder.
Also, as per a survey about Rs 20,000 stuff is left unused in every household. This fact shocked the founder and he finally came with the idea of transforming Mutterfly from food sharing platform to rental platform.
AKSHAY BHATIA completed his studies from Warwick Business School, University of Warwick and was an investment banker in London. He is the only founder of Mutterfly. Also, there are 10 more members in the group and the start-up is progressing day by day.
Revenue depends on the 20% commission which the lender pays and apart from that logistics is paid by the requester, which adds to the revenue.
USP OF MUTTERFLY
Other rental companies just use websites but in case of Mutterfly the technology has completely taken over renting by being an App based model. And also some companies have some restrictions pertaining to booking things two or three days prior. But in case of Mutterfly they are planning to make it instant and soon delivery of goods would be possible within few hours. Currently the start-up is bootstrapped. Read more Startup News.