Furlenco, a popular online furniture rental company, has now raised more than $140 million from a funding round led by Zinnia Global Fund. The investment is a mix of debt and equity. Some of the existing investors like CE-Ventures, Saket Burman (angel investor), and Lightbox Ventures have reportedly participated in this round. the company is expected to fulfill the needs of larger audiences, and new tailor-made solutions are also expected to come out soon. Furlenco wants to have a presence in more cities and build a huge subscriber base.
The company's main motto is to have more vendors create more furniture or assets on a contract basis. The global rental furniture and appliance market is gaining immense traction, and few big names now dominate it. The CEO of Furlenco stated that the main reason for the latest funding round is to bring stability to its subscription model. During the second wave of Covid, the company had to withstand some turbulence, but it managed to recover in June. The funds are expected to play a crucial role in the company's journey, and it is also expected to fuel growth and design. From Zinnia Global Fund, Ritesh Abbi stated that their company is very excited to work with Furlenco.