The Indian Wire » Startups » Furniture rental startup Furlenco posts surge in revenue by 58% at INR 64 cr in FY19; losses at INR 40 cr
Startups

Furniture rental startup Furlenco posts surge in revenue by 58% at INR 64 cr in FY19; losses at INR 40 cr

how to start investing

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.

Also read: Furniture rental startup Furlenco raises INR 9 cr in two rounds of debt funding from clutch of investors

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 FurlencoUrban LadderPepperfryRentickle, and many more.

Reach out to The Indian Wire!

Want to work with us? Looking to share some feedback or suggestion? Have a business opportunity to discuss?

You can reach out to us at [email protected] and we will get back in minutes.

Like us on Facebook!

Advertisement