You are here: Home » PTI Stories » National » News
Business Standard

Furlenco raises Rs 200 cr in equity and debt

Press Trust of India  |  New Delhi 

Online furniture rental company Furlenco today said it has raised Rs 200 crore (USD 30 million) in funding through a mix of equity and debt.

The fresh round of funding includes USD 15 million of equity and USD 15 million of debt, according to Ajith Mohan Karimpana, Founder and CEO of Furlenco.

The equity portion of the investment is led by Lightbox along with Axis Capital (no relation to Axis Bank), a based VC fund and a clutch of prominent high networth individuals or HNIs, the company said in a statement.

The debt was raised from banks, NBFCs (Non-Financial Company), HNIs and Indian family offices.

"The funds raised will be used for expansion to newer categories, product ranges and more cities in the next one year," it added.

In March 2015, Furlenco had raised about Rs 37 crore (USD 6 million) from Lightbox.

In the past 18 months, Furlenco has furnished nearly 15,000 homes with products worth over Rs 100 crore of market value, the release added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 13:32 IST