Furniture Rental Startup Furlenco Sweeps Up INR 200 crore Funding

Furlenco, an online furniture rental company has raised INR 200 crore (USD 30 million) in funding through a mix of debt and equity.
The funding round includes USD 15 million of equity and USD 15 million of debt, according to Founder and CEO of Furlenco, Ajith Mohan Karimpana.
Lightbox has led the equity portion of the investment along with Axis Capital, a Hong Kong based VC fund and a clutch of prominent high net worth individuals or HNIs, the company said in a statement.
The debt was raised from banks, HNIs and Indian family offices NBFCs (Non-Banking Financial Company).
“The funds raised will be used for expansion to newer categories, product ranges and more cities in the next one year,” the statement added.
However, Furlenco had raised about INR 37 crore (USD 6 million) from Lightbox in March, 2015.
Furlenco has furnished nearly 15,000 homes with products worth over Rs 100 crore of market value In the past 18 months, the release added.

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