Buying either from retail or e-commerce is currently the most convenient way to use a consumer product – but it is also the most wasteful and environmentally damaging way to do so, especially for products that we do not use that often, because it takes a lot of bioresources to produce just one product. In fact, consumers spend more time and money to buy, store, maintain and dispose of the products.
Sharing & renting is a better alternative, but there is currently no easy or secure way to do so, even as we live in close proximity, where there are huge opportunities in the sharing economy of things. Frustrated, co-founders Wei Zhang and Pauline – zero waste activists – set out to build an application from scratch, to fulfil their vision of a sharing-cum-circular economy.
Lendor is a rental marketplace platform with an extensive library of things: consumers can rent items from specially curated business partners and share with trusted peers for short/long-term use. Through sharing of items, Lendor encourages collaborative consumption, less wastage, and allow purchases to go the extra mile. Lendor takes care of all inventory, order and communication management, while protecting all beloved items – through our unique Lendor Protection Guarantee (LPG) – so all users can share with a peace of mind.
Lendor is currently working with more than 30 trusted partners – and counting – to provide quality rentals to consumers. We have also been featured in the media in both local and foreign publications, including Today, The Business Times, Vulcan Post, Channel 8 and Channel News Asia.
We have also been pushing out initiatives like the Offline-to-Online (O2O) Kit, where we partner with companies with physical stores, to allow customers to rent items directly – simply by scanning a QR code.
The O2O kit opened up new possibilities, where consumers can now rent electronics for a short duration when their own devices are being repaired.
Lendor will also be pushing out a Rent-To-Own scheme specifically for devices, where consumers can rent a device at a monthly discounted rate and own the said device after 6-12 months of rental (depending on the original cost of the product). Consumers can choose to drop out of the subscription at any point should they find that the device is not suitable for their usage.
The possibilities with Lendor are endless, as we continue to seek for new and innovative methods to reduce waste, and promote an economy where the lifespan of a product is fully utilized before it finds its way into the landfill.