Furlenco, a Bangalore-based start-up that runs an eponymous furnishings and appliance rental service, said today it has raised $140 million in a financing round as it looks to scale its operations in the South Asian market and check out international market growth.
The brand-new $140 million funding round, a Series D, comprises $120 million financial obligation raise and rest in equity, the seven-year-old Indian start-up told TechCrunch. The brand-new funding round was led by Zinnia Global Fund. CE-Ventures and Lightbox Ventures likewise got involved in this round, which brings its to-date debt and equity raise to over $240 million, according to information insight platform Tracxn.
Furlenco, which runs in more than a dozen Indian cities, permits consumers to rent a variety of furniture products. In recent quarters, it has actually broadened to other classifications including fitness devices, home appliances, electronic products, as well as two-wheeler cars.

A queen size bed on the platform, for example, starts at as low as $9 a month, while a laptop can be leased for as low as a monthly plan of $40. The startup has actually brought in customers in part due to the fact that of its three-day delivery dedication, and deep cleansing of items at no extra expense. It likewise maintains a collaboration with NoBroker, a General Atlantic-backed Indian startup that assists clients prevent brokers when discovering new apartment or condos.
The expansion into newer classifications helped the start-up recuperate and protect 95% of its revenue in the fiscal year that ended in March this year, it said. Lightbox Ventures said Furlenco might explore growth into Middle East and other worldwide markets.
The start-up, which takes on Rentomojo, said it will release the fresh capital to fuel its growth and also purchase style and also work to create a yearly profits of $300 million in the next five years.
“Lifestyles have actually evolved therefore have the needs of the urban Indian when it pertains to how they do up their house. Nevertheless, the furniture market has some reaching do in providing the ideal sort of solutions. We understand there is enormous strength and scope of development in the B2C commerce area and the sectors we run in. We are taking advantage of that potential and will absolutely interfere with the marketplace with what we are planning,” said Ajith Mohan Karimpana, creator and chief executive of Furlenco, in a statement.
Rent platforms, like many others, saw a significant dip in 2015 when the coronavirus hit the country. The market its going after remains a big chance. According to market quotes, the rental furnishings and device industry is presently worth over $4.5 billion.
“We are excited to partner with Furlenco, which is rapidly changing Furniture membership services for Indias way of life candidates. As a market leader with a strong management team, Furlenco is poised for continued strong development,” stated Ritesh Abbi, Zinnia Global Fund.

The new $140 million financing round, a Series D, comprises $120 million financial obligation raise and rest in equity, the seven-year-old Indian start-up told TechCrunch. It also keeps a collaboration with NoBroker, a General Atlantic-backed Indian startup that assists clients avoid brokers when finding new houses.
We are tapping into that possible and will definitely disrupt the market with what we are preparing,” said Ajith Mohan Karimpana, founder and primary executive of Furlenco, in a statement.
The market its going after remains a big chance.