Posted on January 6th 2022 by
A 2021 Wrap Up of Lendor
As we leave 2021 behind and enter the new exciting year, we would like to thank you for your continuous support to Lendor! We definitely would not have our achievements without you and we are proud to share them with you. Looking back at the past year, 2021 was a rollercoaster ride for us but both the team and the company have grown tremendously through the ups and downs. We are truly grateful for all the wonderful opportunities that came our way in 2021 and we will continue to strive hard in 2022. Now let us jump into a recap of Lendor’s milestones in 2021.
May - SingPass verification
With the introduction of SingPass verification in May, Lendors are provided with enhanced protection while renting out their items to fellow Lendees. Furthermore, Lendors are not the only ones who benefit from this new addition!
Lendees get to enjoy cheaper rental rates without having to pay a substantial sum as a deposit. We love that it is a win-win situation for everybody! At the end of the day, this allows the Lendor community to be a fair and safe marketplace where both Lendors and Lendees can rent and loan items with greater peace of mind.
September - Lendor Protection Guarantee (Partnership with Igloo)
The introduction of Lendor Protection Guarantee (LPG) has enabled our team to better guard the interest of Lendees. Leveraging on Igloo’s expertise, we are able to offer a detailed risk assessment associated with damages incurred while you rented an item. All Lendees have to do is pay a small sum of LPG fee and we are empowered to protect you from accidental damages by covering up to 20x the LPG fee paid!
Through the implementation of LPG, we are one step closer to ensuring that Lendor acts as a reliable marketplace for Lendees to rent items without having to worry about extra charges being unfairly imposed. This goal will persist in 2022 as our team is determined to protect the interest of Lendees holistically.
October - Try Now, Buy Later
The most recent push would be the Try Now, Buy Later (TNBL) scheme. Lendees can rent items that are under the newly rolled out scheme and try out the items at the comfort of their homes. This helps Lendees to better grasp an understanding of the functionality of the items they are looking to purchase before they make the final decision.
Examples of items under the TNBL scheme include the Nintendo Switch, Xiaomi smart appliances and Redmi smartphones! TNBL has enabled us to introduce a brand new consumption method whereby Lendees are encouraged to only purchase items that are truly a need and in 2022 we will surely be working on bringing in more rental items under this scheme.
Onboarding of Brands & Partners
Of course, how could we miss out on the onboarding of brands and partners such as Lenovo, Xiaomi and GameXtreme. Working hand in hand with these brands and partners has allowed us to bring variety to the offerings of our marketplace. Lendees can Try Now, Buy Later Xiaomi smart home appliances, as well as enjoy a wide selection of video games and console sets from GameXtreme and laptops from Lenovo.
The latter two categories are amongst the list of popular rental items at Lendor. With this collaboration, we were further empowered to directly target the needs and demands of our Lendees. We are constantly hearing out for your feedback and keeping your preferences in mind! In 2022, we certainly will bring forward this mindset with us and work towards providing even better services and greater diversity of rental items for you.
Top Rental Items
We definitely could not miss out on sharing our top rental items! The PlayStation 5 console sets, Lenovo laptops and iPhones have been steadily popular with Lendees throughout the year. The console sets are perfect to rent for a party with your loved ones, the laptops are suitable for gamers and the iPhones are truly loved by many as one of the top-selling phones in the market. As you may have noticed, these 3 rental items all fall under the IT Electronics category. We have noted this exceptional demand for electronic rental items and we will surely aim to bring in more rental items under this category to cater to even more of your preferences in 2022!
Moving onto 2022
Here are some spoilers for what you can anticipate from Lendor this year! We are currently exploring the idea of a monthly rental subscription scheme for the latest tech gadgets. With the implementation of this new scheme, you will be able to rent your favourite smart gadgets for up to 1 year with greater convenience and at a more competitive price as well. Be sure to keep your eyes peeled for this upcoming new scheme as we are confident that you will love it!
As we brace ourselves for what is to come in 2022, we hope to consistently upgrade our platform and services so that you can rent with greater ease and joy. As the saying goes, the grind never stops! The past year has been an amazing ride with you and we look forward to having you as part of the Lendor community in 2022! Have a blessed New Year!