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No Fear No Favour

Mr Perfectionist to invest Rs 2 crore in furniture rental platform, Furlenco

Online furniture rental startup Furlenco, which is run by Bengaluru-based Kieraya Furnishing Solutions Pvt. Ltd, has raised Rs 2 crore (around $300,000) in debt funding from Bollywood actor Aamir Khan, a person involved with the deal told VCCircle.

However, Khan will not be a brand ambassador for Furlenco, said the person cited above.
Ajith Mohan Karimpana, founder of Furlenco, did not comment on the development. Khan was not immediately available for comments.

Furlenco was founded in 2012 by Karimpana, former vice president at Goldman Sachs. He holds an MS in computer and information science from Temple University (the US).

It designs own furniture and gets it manufactured by third-party vendors.
The venture was running operations under Rent Ur Duniya but later re-branded as Furlenco in 2013.
Furlenco has been raising money through a mix of debt and equity financing in the last one year.

In October last year, Furlenco raised $15 million (Rs 100 crore then) in its Series B round of funding led by existing investor Lightbox Ventures along with Axis Capital Partners, a Hong Kong-based venture capital fund.
A few high-net-worth individuals too participated in the funding round. The company also raised $15 million in debt, during that time.

The firm has also raised $6 million (Rs 38 crore then) in a Series A round of funding from LightBox Ventures.
Players in the online furniture rental sector include Rentomojo and Rentsher, among others.

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