Online Furniture Rental Platform Cityfurnish Raises USD 2.5 Mn Funding
Cityfurnish, online furniture rental platform in India, has recently closed a $2.5 million financing round. The funding, which includes debt and equity, was led by Northern Arc Capital and included participation from Western Capital, UC Capital Inclusive, and existing investors. With this new round of funding, Cityfurnish has now raised a total of $10 million in debt and equity to support its growth. Founded in 2015 by Neerav Jain and Saurabh Gupta, Cityfurnish was established to provide a flexible and convenient home furnishing solution to urban India. With more than 70% of apartments in metropolitan cities being unfurnished or semi-furnished, Cityfurnish offers a unique solution that solves a major pain point for many Indians. The company's full-stack model, which includes in-house design, delivery, and assembly, sets it apart from its competition and has led to significant growth and profitability. Currently operating in Delhi NCR, Bengaluru, Mumbai, Pune, and Hyderabad, the company plans to use this latest round of funding to expand Cityfurnish's operations and improve its technology, allowing it to increase its presence in cities across India by 2025.
Tags : Cityfurnish online furniture rental platform India investors Neerav Jain Saurabh Gupta