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Furlenco raises $140 million from Zinnia Global Fund, others

Synopsis The funding will help Furlenco, which offers furniture on rent, expand its geographic reach, launch new products and plans, and support marketing, founder Ajith Mohan Karimpana says. ETtech Furlenco, which saw flat growth in FY21 with revenue of Rs 100 crore, is now looking to grow the business to Rs 2,300-2,500 crore over next five years, founder Ajith Mohan Karimpana. (Photo: Twitter/@AjithKarimpana) Mumbai: Furniture subscription company Furlenco has raised $140 million (Rs 1,000 crore) in a mix of debt and equity, as part of its latest funding round led by Zinnia Global Fund, its founder said. The funding will help the company expand its geographic reach, launch new products and plans, and support marketing, Ajith Mohan Karimpana told ET. “A large part of the fundraise is long-term structured debt whereas the remaining is equity capital,” said Karimpana, who is also the chief executive of the online furniture startup.

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Ecomm firms raise concerns with govt

Ecomm firms raise concerns with govt Want this newsletter delievered to your inbox? SUBSCRIBE Thank you for subscribing to Morning Dispatch We ll soon meet in your inbox. / Morning Dispatch At a meeting with government officials on Saturday, online retailers raised concerns about the tough new e-commerce rules that were announced last month. Their biggest complaints were about the rules that bar “related parties” from selling on their platforms, and e-commerce platforms from launching their own brands. Also in this letter: Zomato IPO Ecomm firms flag concerns about draft rules, seek more time to respond Large ecommerce companies including Flipkart, Amazon India and Tata Group have told the government they are concerned about the “related-party clause” in the new draft regulations for the industry that prevents them from selling on their own platforms, said sources privy to discussions between officials and industry executives on Saturday.

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Furniture rental company Furlenco gets $140 million

Furniture rental company Furlenco gets $140 million © Provided by The Times of India BENGALURU: Online furniture rental company Furlenco has raised $140 million (Rs 1,000 crore) in Series D funding, its largest till date, led by Mauritius-based Zinnia Global Fund. Other existing investors like CE Ventures and Lightbox Ventures also participated. The funding is split between debt, Rs 850 crore, and equity, Rs 150 crore, and will be used to expand into tier I and II cities like Jaipur, Ahmedabad and Mysuru. The company, which counts RentoMojo among its competitors, is present in 10 other cities including Bengaluru and Mumbai. Furlenco has been raising debt since last year, including Rs 44 crore in January from Black Soil Capital and Crescent Enterprises, and Rs 53 crore from four investors at the end of last year. The eight-year-old firm has raised close to $250 million in debt and equity till date.

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amir Khan backed furniture rental startup Furlenco raises ₹1,000 crore from Zinnia Global fund

amir Khan backed furniture rental startup Furlenco raises ₹1,000 crore from Zinnia Global fund
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Furlenco raises ₹1,000 crore in funding round led by Zinnia Global

Furlenco raises ₹1,000 crore in funding round led by Zinnia Global
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