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Furlenco Wants To Reorganize Online Furniture Market

MUMBAI, INDIA: Furlenco, the online furniture rental company will be looking to raise Rs 300 crore through both debt and equity to go head to head with vertical players like Urban Ladder and Pepperfry.

Furlenco are in talks with a few banks and PEs to expand to more cities along with their new product lines. The company which was founded in 2012 had previously been funded $6 million by Lightbox Ventures in 2015.

The company’s current service locations include Bengaluru, Mumbai and Pune. They will plan to enter Delhi-NCR by the end of 2016.

According to The Hindu Business Line, Furlenco’s new product line will include hi-tech sleeping pods, multi-functional bed-cum-sofa-storage, kids utility furniture and a ramifying dining table that could be converted into a poker or billiards table.

The online furniture rental company will attempt to disrupt the furniture market much like the way Uber disrupted the taxi segment.

“In the next five years, the whole of urban India will be renting out products and services. It has already started to happen in the housing and auto segments. Furniture has started witnessing disruption.” said Ajith KArimpana, founder of Furlenco.

The company have furnished 5,000 homes and their target is to furnish 25,000 by March of 2017. Furlenco plans to be positive in EBITDA by April 2017.