Template:Infobox website Furlenco is an Indian online furniture rental platform that was incorporated in 2012.[1][2][3][4][5][6][7]
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.[8] 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.[9] In December 2016, Furlenco partnered with Airbnb to offer personalized home interiors.[10] It also partnered with Uber,[11] Pocket Aces,[12] CORT,[13] The Viral Fever,[14] NoBroker,[15] Dharma Productions for ‘Badrinath Ki Dulhania’,[16] and Red Chillies Entertainment for ‘Dear Zindagi’[17]
Funding
The company raised $30 million in October 2016.[18][19] Furlenco had secured $6 million in its Series A funding round led by LightBox VC in March 2015.[20] Earlier, the company had received funds amounting to $100k via angel funding.[21]
In April 2020, the company closed $10 million (approx ₹76.4 crore) debt and equity financing round led by existing investors.[22]
Business model
Furlenco offers furniture for entire homes on a monthly rental subscription model.[21] Furlenco's rents for living rooms, bedrooms, and dining rooms.[23][24]
References
- ↑ Online furniture company Furlenco expands to Mumbai, eyes tier 2 cities next(25 November 2015).
- ↑ Furlenco hopes to re-arrange online furniture market(5 July 2016).
- ↑ Renting furniture? How these companies are redefining lives of bachelors in metros(3 May 2017).
- ↑ Ikea Effect: Renting Furniture Vs Buying Trend Helps Furlenco Seal Another $30 Million In Funding. The Huffington Post(20 December 2016).
- ↑ How startup founders are compensating employees for lack of job security(29 May 2017).
- ↑ This Indian startup doesn't want you to buy furniture ever again(8 July 2016).
- ↑ Furniture on rent: Furlenco steps in to change the market mentality(28 May 2016).
- ↑ Set up your home on a budget(14 September 2014).
- ↑ Furlenco redefining the furniture rental space in India(23 September 2015).
- ↑ Furlenco partners with Airbnb(23 December 2016).
- ↑ Online furniture company Furlenco starts operations in Pune(6 April 2016).
- ↑ Furlenco partners with Pocket Aces to target millennials(22 February 2017).
- ↑ Furlenco to serve US customers(18 December 2015).
- ↑ Furlenco Powers TVF's New Sketch 'Truth or Dare with Dad'(19 April 2016).
- ↑ Furlenco ties up with NoBroker to ease furnishing woes(11 May 2016).
- ↑ Furlenco launches #SWAGGHAR campaign to engage with tech-savvy millennial(7 March 2017).
- ↑ Now, Red Chillies partners with online furniture rental firm Furlenco for 'Dear Zindagi'(22 November 2016).
- ↑ Furlenco's $30 million raise shows furniture rental is working for Indian millennials(19 October 2016).
- ↑ An Indian startup raised $30 million because millennials don't even want to own furniture(28 October 2016).
- ↑ Online furniture rental venture Furlenco raises $6M from LightBox Ventures(23 March 2015).
- ↑ 21.0 21.1 How Losing 90% Of His Investment For Furniture Prompted Ajith To Start His Own Furniture Lending Company(19 February 2016).
- ↑ Furlenco closes $10 million round from existing backers - ETtech, Gooptu, Biswarup. ETtech.com(1 April 2020). Retrieved 2020-09-23.
- ↑ This company is helping millennials to never settle down in one city(28 July 2017).
- ↑ Tech Start-Ups in India Attract Big Name Investors, and Money. The New York Times(4 May 2015).