Quupe

Quupe operates as a community-based rental platform where individuals can lend and borrow a wide array of items, positioning itself within the sharing economy. The company was founded in 2016 by a diverse team of four co-founders—Angela Hamilton (CEO), Zeeshan Rasool (CTO), Lian Shou, and Vijay Ramaswamy—who met during their master's program at the Centre for Digital Media in Vancouver. Originating from four different countries, the founders were united by a common concern for the problem of overconsumption in their respective homelands, which sparked the idea for the platform.

The venture began as a free-sharing platform while the founders were still students and officially launched online in 2017 after pivoting to a rental model. The platform, accessible via desktop and a mobile-first application, aims to connect people within a local community, initially focusing on Greater Vancouver. It allows users (lenders) to generate passive income from items that are not in constant use, while offering borrowers an affordable and convenient way to access things they need for short-term use. The business model targets the trend of valuing access over ownership and fosters community connections while reducing landfill waste. By 2018, the company reported having saved users over $150,000 and diverted more than 2.5 tons of items from landfills.

Quupe's platform facilitates the rental of various goods, from household items and electronics to professional equipment like cameras and camping gear. To build trust and ensure safety, it provides insurance coverage for all listed items, initially up to $1,000 and later increased to $10,000. Key features of the service include in-app payments, geolocation to find nearby items, and a rental calculator to help lenders set prices. The company has received backing from several investors, including the BC Tech Association, New Ventures BC, and the UBC Seed Fund. Milestones include winning the BC Tech Association Growth Programs prize package in 2018 and forming partnerships with Vancity and Modo in 2019, with plans for Canada-wide expansion.

Keywords: peer-to-peer rental, sharing economy, community marketplace, local rentals, rent anything, item sharing, sustainable consumption, collaborative economy, P2P lending, access over ownership, Vancouver startup, equipment rental, passive income, reduce waste, community platform, insured rentals, Centre for Digital Media, Angela Hamilton, Zeeshan Rasool, Vancity partnership