Myanmar's Rent 2 Own raises $3m debt from impact investor Incofin

Rent 2 Own raises funds for expansion

Rent 2 Own, which offers motorbike renting solutions, has raised USD 3 million in debt financing from Belgian company Incofin. Established in Myanmar in 2016, Rent 2 Own aims to help entrepreneurs, particularly farmers, to use improved transportation to generate income and improve their business operations. According to a report in Dealstreet Asia, Rent 2 Own CFO Olivier Bertrand said “The new funding will enable Rent 2 Own Myanmar to continue providing economic opportunities to families of the low income and rural population in Myanmar”. Under the program, customers make an upfront payment, and then pay the rest of the cost of the motorbike using a payment plan. The company said it has established 39 branches across the country and has almost 100,000 clients.

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