Furlenco, a furniture rental startup, has posted a surge in revenue by 58 per cent at INR 64 crore in FY19 against INR 40 crore in FY18, cited Yourstory.
Whereas, the platform Furlenco reported a loss of INR 80.03 crore in FY19 against INR 64 crore in FY18, as per the sources.
Furlenco was founded by Ajit Mohan Karimpana in 2011. The platform Furlenco is an online platform that provides furniture for homes on a subscription basis in metro cities like Bengaluru, Delhi-NCR, Hyderabad, Chennai, Mumbai and Pune.
As per its website, Furlenco’s majority of revenue comes from furnishings and home appliances.
While, the loss, adhered by the company Furlenco, could be due to employee benefits expense at INR 33 crore in FY19 and INR 26 crore in FY2018, as per the sources.
Some of the significant startups in the similar domain include Furlenco, Urban Ladder, Pepperfry, Rentickle, and many more.