Furniture rental startup Furlenco raises Rs 20 crore in venture debt from Blacksoil Furlenco has furnished over 150,000 homes across eight major cities in India and has AUM (assets under management) worth over Rs 200 crore. TechSamvad January 22, 2021 14:01:07 IST Furlenco logo
Blacksoil Capital on 21 January said it has invested Rs 20 crore as venture debt in furniture subscription platform Furlenco. Furlenco has raised close to $51 million in equity funding from investors like Lightbox Ventures, Crescent Ventures, Deepika Padukone and Burman Family Office. It has also raised close to $45 million in debt funding. The year 2021 will see a new phase of growth for Furlenco. We have a lot of exciting initiatives planned for this year that will unravel over the next six to nine months. We are delighted to have BlackSoil as our latest partner, Furlenco founde
[Funding alert] BlackSoil Capital invests Rs 20 Cr into furniture subscription platform Furlenco
Furniture rental startup Furlenco says it has furnished over 150,000 homes in eight cities.
0 claps
Furlenco) has raised
BlackSoil Capital. Founded by
Ajith Mohan Karimpana, Furlenco operates as a furniture subscription platform and has furnished over 150,000 homes in eight cities in India.
Furlenco is a furniture rental startup that offers quality furniture that is designed in-house. The furniture is delivered free of cost at the customer s doorstep within 72 hours and the company provides customers with facilities like annual cleaning, option to swap furniture, and free relocation.
“The year 2021 will see a new phase of growth for Furlenco. We have several initiatives planned for this year that will be launched over the next six to nine months. We are delighted to have BlackSoil Capital as our latest partner. BlackSoil has quickly emerged as a prominent venture debt player, h
The NCDs were issued on a private placement basis, and the funds raised through this issue will be utilised primarily for lending activities of the company.
Explore Now
NEW DELHI: Domestic stocks look set to open on a firm note on Tuesday, after a massive fall on the previous day as a low level buying may ensue. These stocks may buzz the most during the day:
Coal India: State-owned CIL allocated 25.78 million tonnes (MT) of coal in the first eight months of this fiscal under spot e-auction scheme, registering a year-on-year increase of 59.4 per cent.
Future Retail: Kishore Biyani-led
Future Retail Ltd (FRL) said it is “reviewing” the Delhi High Court order that has rejected its plea to restrain Amazon from writing to regulatory authorities about the SIAC arbitral order against its asset sale under a Rs 24,713 crore deal with Reliance.
Synopsis
Small retailers have been known to operate on credit due to lack of working capital but they have to pay interest in the range of 40-100 percent.
ThinkStock Photos The company has a direct tie-up with leading FMCG brands, making it convenient for retailers to source through Taikee instead of interacting with multiple brands salesmen.
MUMBAI: Peel-Works Pvt Ltd, a B2B e-commerce grocery firm, has partnered with three NBFCs to provide short-term credit to kirana stores at reasonable interest rates.
The three NBFCs RBL, Karbon Cards and Indifi will provide credit in the range of Rs 50,000 to Rs 2,50,000 for seven to 15 days to the small retailers registered on Peel-Works mobile app Taikee.