PhoRent Raises $250K in Angel Funding

PhoRent, a San Mateo, CA-based online peer-to-peer rental marketplace for powersports, raised $250k in angel funding.

The round was led by VC Mark Wan.

The company intends to use the funds to develop partnerships and expand its marketing efforts.

Led by Josh Jermaine, founder, PhoRent enables connect private owners and renters of power sport vehicles and equipment vehicles including ATVs/UTVs, 5th Wheel trailers, jet skis, motorcycles, mopeds, golf carts, etc. It is also rolling out a rental category for non-motorized vehicles and gear like bicycles, tents, BBQs and other items.
The company has a direct and vertically integrated Fortune 500 insurance carrier which means that both renters and owners are automatically insured for damage and liability and do not require any offline certification process be completed before a vehicle or boat can be rented.



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