Bengaluru-based online home furniture rental company Furlenco, which has raised $6 million from venture capital firm Lightbox Ventures early this year, launched its operations in Mumbai.
Incorporated in 2012, the online marketplace follows the rental model which it claims to be 60 per cent cheaper than EMI, whereas the furniture available online is designed by in-house designers and styled as per European and Tropical Indian standards to fit into urban Indian Homes.
"Mumbai for us is a potential market because a majority of people relocate here for their jobs.
The cost of living in Mumbai is extremely high, making it difficult for the young and professional crowd to afford new furniture for their temporary habitation. Our rental services will help them in elevating their living standards without compromising on their need for a good-looking home due to lack of affordable and convenient solutions," Ajith Mohan Karimpana, founder and CEO of Furlenco, said in a statement on Wednesday.