Furlenco Gets Debt Funding From BlackSoil Capital

Online furniture rental start-up Furlenco, which is run by Bengaluru-based Kieraya Furnishing Solutions Pvt. Ltd, has raised Rs 20 crore ($2.7 million) in funding from venture debt and alternative credit platform BlackSoil Capital.
BY Realty Plus
Published - Friday, 22 Jan, 2021

Online furniture rental start-up Furlenco, which is run by Bengaluru-based Kieraya Furnishing Solutions Pvt. Ltd, has raised Rs 20 crore ($2.7 million) in funding from venture debt and alternative credit platform BlackSoil Capital. Furlenco designs furniture in-house. The company, which was launched in 2012 by Ajith Mohan Karimpana, claims to have furnished over 150,000 homes across 8 major cities in India till date. In April last year, Furlenco raised $10 million in a mix of equity and debt led by venture capital firm Lightbox. In September 2018, Furlenco had raised its Series C round of funding led by UAE-based venture capital fund Crescent Enterprises Ventures. In 2015, Furlenco said it raised $6 million (Rs 38 crore then) in a Series A round from Lightbox alone. In 2016, it raised $15 million (Rs 100 crore) in a Series B round led by Lightbox. That year, the company raised $15 million in debt. Then, in late 2017, Furlenco raised Rs 7.7 crore ($1.2 million) in debt funding from Bollywood actor Aamir Khan and four other persons. It is one of the furniture rental start-ups to have raised money in recent times.