>Smartse at 10:12, 23 June 2021

2021-06-23T10:12:09Z

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{{Use dmy dates|date=July 2019}}
{{Infobox website
| name = Furlenco
| logo = Furlenco.jpg
| logo_size = 200px
| url = {{URL|https://www.furlenco.com/}}
| location = [[Bangalore]], [[India]]
| industry = Home & Furniture, [[Online retailing]]
| area_served = [[India]]
| key_people = Ajith Mohan Karimpana CEO & founder,<ref>{{cite news|title=Urban millennials don't want to get {{sic|commit|ed|nolink=y}} to things: Furlenco|url=https://www.cnbc.com/video/2016/11/18/urban-millennials-dont-want-to-get-commited-to-things-furlenco.html|publisher=[[CNBC]]|date=18 November 2016}}</ref> Ashwin Venkataraman COO, Gaurav Sharma Chief Strategy Officer & Chief Customer Officer, Lohith V Chief Technology Officer
| products = [[Furniture]]
| launch_date = 2012
| revenue =
}}
'''Furlenco''' is an Indian online furniture rental platform that was incorporated in 2012.<ref>{{cite news|last1=Nair|first1=Sulekha|title=Online furniture company Furlenco expands to Mumbai, eyes tier 2 cities next|url=http://www.firstpost.com/business/online-furniture-company-furlenco-expands-to-mumbai-eyes-tier-2-cities-next-2520498.html|publisher=[[Firstpost]]|date=25 November 2015}}</ref><ref>{{cite news|last1=Pani|first1=Priyanka|title=Furlenco hopes to re-arrange online furniture market|url=http://www.thehindubusinessline.com/companies/furlenco-hopes-to-rearrange-online-furniture-market/article8812191.ece|publisher=[[The Hindu Business Line]]|date=5 July 2016}}</ref><ref>{{cite news|last1=Jain|first1=Hitisha|title=Renting furniture? How these companies are redefining lives of bachelors in metros|url=https://www.zeebiz.com/small-business/news-renting-furniture-how-these-companies-are-redefining-lives-of-bachelors-in-metros-15673|publisher=[[Zee Business]]|date=3 May 2017}}</ref><ref>{{cite news|title=Ikea Effect: Renting Furniture Vs Buying Trend Helps Furlenco Seal Another $30 Million In Funding|url=http://www.huffingtonpost.in/2016/10/19/ikea-effect-renting-furniture-vs-buying-trend-helps-furlenco-se_a_21586741/|work=[[The Huffington Post]]|date=20 December 2016}}</ref><ref>{{cite news|last1=Ayyar|first1=Ranjani|title=How startup founders are compensating employees for lack of job security|url=http://economictimes.indiatimes.com/small-biz/startups/how-startup-founders-are-compensating-employees-for-lack-of-job-security/articleshow/58889881.cms|publisher=[[The Economic Times]]|date=29 May 2017}}</ref><ref>{{cite news|last1=Agrawal|first1=Rajat|title=This Indian startup doesn't want you to buy furniture ever again|url=http://mashable.com/2016/07/08/furlenco-furniture-renting-india/#kh1MaMv2laq2|publisher=[[Mashable]]|date=8 July 2016}}</ref><ref>{{cite news|title=Furniture on rent: Furlenco steps in to change the market mentality|url=http://www.deccanchronicle.com/business/companies/280516/furniture-on-rent-furlenco-steps-in-to-change-the-market-mentality.html|accessdate=25 October 2017|publisher=[[Deccan Chronicle]]|date=28 May 2016}}</ref>

== History ==
Furlenco was founded by Ajith Karimpana, an engineering graduate from [[NIT Jalandhar]] and alumnus of [[Temple University]]. It was incorporated in 2019
. Before starting his own venture, Karimpana was serving as Vice President of [[Goldman Sachs]] in the US. He also has worked for [[Infosys Technologies]] and [[Morgan Stanley]].<ref>{{cite news|last1=Kumar|first1=Nandini|title=Set up your home on a budget|url=http://bangaloremirror.indiatimes.com/columns/work/Set-up-your-home-on-a-budget/amp_articleshow/42463210.cms|publisher=[[Bangalore Mirror]]|date=14 September 2014}}</ref> The company is owned and operated by [[Bangalore]]-based Kieraya Furnishing Solutions. Initially, the company started as Rent Ur Duniya but was later renamed to Furlenco.<ref>{{cite news|last1=Mishra|first1=Swadha|title=Furlenco redefining the furniture rental space in India|url=https://www.entrepreneur.com/article/250940|publisher=[[Entrepreneur (magazine)|Entrepreneur]]|date=23 September 2015}}</ref> In December 2016, Furlenco partnered with [[Airbnb]] to offer personalized home interiors.<ref>{{cite news|last1=Desikan|first1=Aparna|title=Furlenco partners with Airbnb|url=https://timesofindia.indiatimes.com/business/india-business/furlenco-partners-with-airbnb/articleshow/56139252.cms|publisher=[[Times of India]]|date=23 December 2016}}</ref> It also partnered with [[Uber]],<ref>{{cite news|title=Online furniture company Furlenco starts operations in Pune|url=http://tech.economictimes.indiatimes.com/news/startups/online-furniture-company-furlenco-starts-operations-in-pune/51711942|agency=ETtech|publisher=[[The Economic Times]]|date=6 April 2016}}</ref> [[Pocket Aces]],<ref>{{cite news|last1=Laghate|first1=Guarav|title=Furlenco partners with Pocket Aces to target millennials|url=http://economictimes.indiatimes.com/small-biz/money/furlenco-partners-with-pocket-aces-to-target-millennials/articleshow/57290201.cms|publisher=[[The Economic Times]]|date=22 February 2017}}</ref> [[Cort Guitars|CORT]],<ref>{{cite news|last1=Shaikh|first1=Shadma|title=Furlenco to serve US customers|url=http://www.asianage.com/technomics/furlenco-serve-us-customers-564|publisher=[[Asian Age]]|date=18 December 2015}}</ref> [[The Viral Fever]],<ref>{{cite news|title=Furlenco Powers TVF's New Sketch 'Truth or Dare with Dad'|url=http://www.adageindia.in/marketing/cmo-strategy/furlenco-powers-tvfs-new-sketch-truth-or-dare-with-dad/articleshow/51886302.cms|publisher=Adageindia.in|date=19 April 2016}}</ref> NoBroker,<ref>{{cite news|title=Furlenco ties up with NoBroker to ease furnishing woes|url=http://tech.economictimes.indiatimes.com/news/startups/furlenco-nobroker-furnishing-woes-relocators/52224567|agency=[[Asian News International]]|publisher=[[The Economic Times]]|date=11 May 2016}}</ref> [[Dharma Productions]] for ‘[[Badrinath Ki Dulhania]]’,<ref>{{cite news|title=Furlenco launches #SWAGGHAR campaign to engage with tech-savvy millennial|url=https://retail.economictimes.indiatimes.com/news/home-and-decor/furniture-and-decor/furlenco-launches-swagghar-campaign-to-engage-with-tech-savvy-millennial/57511687|publisher=[[The Economic Times]]|date=7 March 2017}}</ref> and [[Red Chillies Entertainment]] for ‘[[Dear Zindagi]]’<ref>{{cite news|last1=Laghate|first1=Gaurav|title=Now, Red Chillies partners with online furniture rental firm Furlenco for 'Dear Zindagi'|url=http://economictimes.indiatimes.com/magazines/panache/now-red-chillies-partners-with-online-furniture-rental-firm-furlenco-for-dear-zindagi/articleshow/55558967.cms|publisher=[[The Economic Times]]|date=22 November 2016}}</ref>

== Funding ==
The company raised $30 million in October 2016.<ref>{{cite news|last1=Mannes|first1=John|title=Furlenco's $30 million raise shows furniture rental is working for Indian millennials|url=https://techcrunch.com/2016/10/19/furlencos-30-million-raise-shows-furniture-rental-is-working-for-indian-millennials/|publisher=[[TechCrunch]]|date=19 October 2016}}</ref><ref>{{cite news|last1=Livni|first1=Ephrat|title=An Indian startup raised $30 million because millennials don't even want to own furniture|url=https://qz.com/821221/indian-startup-furlenco-was-able-to-raise-30-million-because-millennials-dont-even-want-to-own-furniture/|publisher=[[Quartz (publication)]]|date=28 October 2016}}</ref> Furlenco had secured $6 million in its Series A funding round led by LightBox VC in March 2015.<ref>{{cite news|last1=Sahay|first1=Priyanka|title=Online furniture rental venture Furlenco raises $6M from LightBox Ventures|url=https://www.vccircle.com/online-marketplace-rent-furniture-furlenco-raises-6m-lightbox-ventures/|publisher=[[VCCircle]]|date=23 March 2015}}</ref> Earlier, the company had received funds amounting to $100k via angel funding.<ref name="inc"/>

In April 2020, the company closed $10 million (approx ₹76.4 crore) debt and equity financing round led by existing investors.<ref>{{Cite web|last=Gooptu|first=Biswarup|date=1 April 2020|title=Furlenco closes $10 million round from existing backers - ETtech|url=https://tech.economictimes.indiatimes.com/news/startups/furlenco-closes-10-million-round-from-existing-backers/74934205|url-status=live|archive-url=|archive-date=|access-date=2020-09-23|website=ETtech.com|language=en}}</ref>

== Business model ==
Furlenco offers furniture for entire homes on a monthly rental [[Subscription business model|subscription model]].<ref name="inc">{{cite news|last1=Modgil|first1=Shweta|title=How Losing 90% Of His Investment For Furniture Prompted Ajith To Start His Own Furniture Lending Company|url=https://inc42.com/startups/furlenco/|publisher=Inc42.com|date=19 February 2016}}</ref> Furlenco's rents for living rooms, bedrooms, and dining rooms.<ref>{{cite news|last1=Dubey|first1=Tanya|title=This company is helping millennials to never settle down in one city|url=http://www.businessinsider.in/This-company-is-helping-millennials-to-never-settle-down-in-one-city/articleshow/59806315.cms|publisher=[[Business Insider]]|date=28 July 2017}}</ref><ref>{{cite news|last1=Rai|first1=Saritha|title=Tech Start-Ups in India Attract Big Name Investors, and Money|url=https://www.nytimes.com/2015/05/05/business/dealbook/with-big-names-and-money-flowing-in-tech-start-ups-in-india-heat-up.html|work=[[The New York Times]]|date=4 May 2015}}</ref>

== References ==
{{Reflist}}

== External links ==
* {{Official website|http://www.furlenco.com}}
* [http://economictimes.indiatimes.com/opinion/interviews/company-to-move-to-koramangala-to-meet-increasing-request-flow-ajith-mohan-karimpana-founder-furlenco/articleshow/49992891.cms Ajith Mohan Karimpana, CEO's Interview] at [[The Economic Times (India)]]

{{Portal bar|Internet|Companies|India}}

[[Category:Online retailers of India]]
[[Category:Retail companies established in 2012]]
[[Category:Internet properties established in 2012]]
[[Category:Furniture retailers]]
[[Category:Furniture companies of India]]

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Furlenco - Revision history

>Smartse at 10:12, 23 June 2021