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David Rahnaward, Mitgründer von Otto Now © Otto GmbH & Co KG

Otto Now expanding "lease instead of buy" rental platform

Hamburg's Otto adds B2B business - short-term lease and purchase options available

Hamburg’s Otto Now rental platform is opening up its e-commerce model to business customers interested in leasing goods at short notice or buying rental properties. The platform is now offering around 1,000 items including household gadgets, sports equipment and furniture. The venture is one of the latest in the sharing economy sector, which has seen the emergence of carsharing, crowdfunding or the Stadtrad.

Otto Now: Top 5 Mietprodukte
Otto Now's top 5 rental products © Otto GmbH & Co KG

B2C, B2B and short-term leases

Otto Now is also targeting business customers who can rent the products for the same price as private users. The focus will initially be on entrepreneurs and freelancers. Previously, customers could choose between leases lasting three, six, 12 and 24 months. To give customers more flexibility, certain articles can be rented for just one month, e.g. a camera for a summer holiday. Drones or virtual reality headsets can also be leased as well cargo bikes, punching bags and ventilators, which became the latest addition to the range of goods.

Otto Now introduces purchase option

“We have been developing our product range intensely on our customers’ wishes since our launch in December 2016,” said David Rahnaward, co-founder of the Otto Now start-up. He added: “We are responding to the growing number of requests for the purchase option. If you buy your rental product, you can keep it.” The company deducts any rental payments already made from the purchase price.

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