Furlenco, a furniture rental startup, has raised around INR 9 crore from clutch of investors during a two rounds of debt funding, reported Inc42.
The clutch of investors, invested in the Bengaluru-based startup Furlenco include United Oxygen Company, Gautam Radhakrishnan, Prabhakar Kanade, Rajnesh N. Shah, Kunal Shah, founder at Cred, Freecharge, Nikita Mandot, and Musaed Noorani.
Furlenco will use the infused amount of funding to scale up its business and ensure it wins the war for survival in the furniture rental segment.
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.
Earlier in 209, Furlenco had bagged INR 40.46 crore in a series C funding round from Lightbox Ventures, Crescent Enterprises and others.
Furthermore, as per the report of BCG, the furniture rental market is expected to surge at a robust rate over the forecast period i.e. 2017-2024.
Some of the significant startups in the similar domain include Furlenco, Urban Ladder, Pepperfry, Rentickle, and many more.