Furlenco, a furniture rental company, has raised Rs 1,000 crore in a mix of debt and equity in Zinnia Global Fund led funding round. The round also saw participation from existing investors Lightbox Ventures and CE-Ventures.
“With this new fundraise, the company will cater to much larger audiences with more tailored solutions and brand new offerings, while continuing to focus on sustainability at the very core of the business,” the company informed in a statement.
Founder and CEO of Furlenco – Ajith Mohan Karimpana, said, “We are excited to lead the way in transforming how people access furniture and we want to keep innovating in this space. The funds we have raised will play a critical role in this journey and fuel our growth with investments and design. We know there is immense strength and scope for innovation in the B2C commerce space and the sectors we operate in. We are tapping into that potential and will definitely disrupt the market with what we are planning.”
Zinnia Global Fund CEO Ritesh Abbi, added, “We are excited to partner with Furlenco, which is rapidly transforming furniture subscription services for India’s lifestyle aspirants. As an industry leader with a strong management team, Furlenco is poised for continued strong growth.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.