Furlenco Revenue, Valuation, Funding & Investors
Furlenco is valued at $92M as of July 2023, a 4.8x multiple on its last reported $19M revenue.
Last Furlenco valuation
$92M
Strategic investment · Jul 2023
Last Furlenco funding round
$14M
Undisclosed stage · Dec 2025
Furlenco revenue
$19M
Strategic investment · Jul 2023
Key investors in Furlenco
Lightbox
Sheela Foam
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Aamir KhanInnoVen Capital
- Kris Gopalakrishnan
HDFC Bank
About Furlenco
Furlenco is a Bangalore-headquartered furniture rental service launched in 2012. The company delivers sofa sets, beds, wardrobes, and dining units on 6-48 month subscriptions starting at ₹999/month across 12 Indian cities. Furlenco serves 100,000+ customers including corporates like Google and startups, with logistics handling 50,000 relocations annually.
Founded
2012
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Subscription
Revenue
$19M (Jul 2023)
Valuation
$92M (Jul 2023)
Furlenco Valuation
Furlenco is currently valued at $92M, based on its strategic investment round in July 2023.
The $37M round was led by Sheela Foam.
Furlenco's valuation has moved from $125M at its Series B in October 2016 to $92M in July 2023, across 2 priced rounds.
Furlenco valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2023 | Strategic investment | $92M | 4.8x |
| Oct 2016 | Series B | $125M | 5.2x |
Furlenco Revenue
Furlenco's latest recorded revenue is $19M, as of its strategic investment round in July 2023. At a $92M valuation, that implies a 4.8x revenue multiple.
Revenue moved from $24M in October 2016 to $19M in July 2023, while the revenue multiple moved from 5.2x to 4.8x.
Furlenco revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2023 | $19M | $92M | 4.8x | Strategic investment |
| Oct 2016 | $24M | $125M | 5.2x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Furlenco Funding History
Furlenco has raised a total of $111M across 10 funding rounds.
Furlenco's first fundraising round was a $6M Series A in March 2015. The most recent completed round was a $14M undisclosed-stage round in December 2025.
Furlenco funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Undisclosed stage | Sheela Foam (lead); Madhu Kela Family Office; White Oak Capital Management | $14M | - | Furlenco, a Bengaluru-based furniture rental company founded in 2012, raised INR 125 crore in a funding round led by Sheela Foam, with participation from White Oak Capital and Madhu Kela. The capital will support expansion into new cities, product innovation, omnichannel growth including offline stores, supply chain strengthening, and improved customer experience. Sheela Foam, which previously acquired a 35% stake for INR 300 crore in July 2023 and an additional 10.5% for INR 107 crore in October 2024, held 43.89% on a fully diluted basis as of March 2025. Furlenco achieved profitability in FY25 with revenue of INR 240 crore and net profit of INR 3 crore, reversing a INR 139 crore loss from FY24. The company serves over 1.5 lakh active subscribers and has furnished more than 10 lakh homes across India, operating in 28 cities. Rental furniture constitutes 70% of revenue, appliances 25%, and new furniture 5%, bolstered by synergies with Sheela Foam's manufacturing for cost-effective mattresses and foam, plus access to its 5,000+ dealer network. Looking ahead, Furlenco targets INR 370 crore revenue and INR 37 crore profit in FY26, with plans for INR 340 crore revenue and 10% profit before tax per other projections, new verticals like Furlenco Kids, premium products, and an IPO after FY27 if profitability sustains. |
| Jul 2023 | Strategic investment | Sheela Foam (lead) | $37M | $92M | Furlenco is a Bengaluru-based furniture and appliance rental startup operating a subscription-based platform in over a dozen Indian cities, offering flexible home solutions including rental, direct-sale, and refurbished products. It competes with players like Rentomojo and Rentickle in the growing furniture rental market. In July 2023, Sheela Foam, the maker of Sleepwell mattresses, acquired a 35% stake in Furlenco's parent company, House of Kieraya, for around INR 300 crore, implying an enterprise valuation of roughly INR 857 crore ($104.3 million). The deal marked Sheela Foam's entry into the branded furniture market and valued Furlenco at about $104.3 million post-transaction. The financial year ending March 2023 (relevant to the July 2023 round) showed Furlenco generating revenue of $18.5 million. Sheela Foam had proposed paying $36.5 million for the stake, aligning with the INR 300 crore figure at prevailing exchange rates. Furlenco had previously raised over $225 million in equity and debt from investors like Lightbox Ventures and Crescent Ventures. This investment strengthened strategic ties between Sheela Foam and Furlenco, with Sheela Foam later adding a 10.5% stake in October 2024 for INR 107 crore, reaching 43.89% ownership by March 2025. Subsequent funding included a INR 125 crore equity round led by Sheela Foam with WhiteOak and Madhu Kela, aimed at city expansion, product innovation, omni-channel growth, and supply-chain improvements. By FY25, Furlenco achieved revenue of ~INR 240 crore and PAT of INR 3 crore, reversing a INR 139 crore loss in FY24, with over 1.5 lakh active users and 10 lakh+ homes furnished, positioning it for potential IPO. |
| Jul 2021 | Series D | Zinnia Global Fund (lead); Crescent Enterprises Venture Capital; Saket Burman; Lightbox | $20M | - | Furlenco is a subscription-based online furniture and appliance rental platform founded in 2012 and headquartered in Bengaluru. The company allows customers to rent furniture, fitness equipment, appliances, electronics, and two-wheeler vehicles across multiple Indian cities. In July 2021, Furlenco raised $140 million in its Series D funding round led by Zinnia Global Fund, with participation from existing investors Lightbox Ventures, CE-Ventures, and angel investor Saket Burman. The round comprised $120 million in venture debt and $20 million in equity, marking a major capital injection for growth and geographic expansion. The company had demonstrated resilience during the COVID-19 pandemic, preserving 95% of its revenue in fiscal year 2020-21 and announced ambitions to scale annual revenue to ₹2,200 crore within five years and achieve $300 million in annual revenue. Furlenco positioned itself as a market leader in the subscription furniture rental space, competing against platforms like Rentomojo in an industry estimated at over $4.5 billion. The capital was earmarked to fuel growth, invest in design, expand into new geographies including potential Middle East and international markets, and build out newer product categories beyond furniture. |
| Apr 2020 | Series A | Aamir Khan; Lightbox; Kris Gopalakrishnan; Gautham Radhakrishnan | $10M | - | - |
| Feb 2020 | Series C | Chowdry Associates; S.K. Burman | $2M | - | - |
| Mar 2019 | Series C | InnoVen Capital (lead) | $6M | - | - |
| Feb 2018 | Pre-seed | Signet Excipients | $800K | - | - |
| Dec 2017 | Pre-seed | Aamir Khan (lead) | $300K | - | - |
| Oct 2016 | Series B | Lightbox (lead); AXIS Capital; HDFC Bank; Axis Bank; Ashv Finance | $15M | $125M | Furlenco is a Bangalore-based online furniture rental company founded in 2012 by Ajith Mohan Karimpana, a former Goldman Sachs vice president. The company operates a subscription-based rental model, offering furniture to urban customers across Indian cities including Bangalore, Mumbai, and Pune. In October 2016, Furlenco closed its Series B funding round at a post-money valuation of $125 million. The round comprised $15 million in equity led by existing investor Lightbox Ventures alongside new investor Axis Capital (Hong Kong-based VC) and participation from high-net-worth individuals, plus $15 million in debt from banks (HDFC Bank, Kotak Mahindra Bank, Axis Bank), venture debt providers, and family offices. The company was actively expanding geographically and in product offerings, with plans to enter Delhi and Hyderabad within 12 months of the funding. At the time of the round, Furlenco claimed to service approximately 2,000 bookings monthly with an average ticket size of Rs 3,000 and reported a 24 percent revenue growth rate. |
| Mar 2015 | Series A | Lightbox (lead) | $6M | - | Furlenco is a Bangalore-based furniture rental startup operating a monthly subscription model for living rooms, kitchens, and bedrooms, with subscriptions starting at INR 1500 per month. The company designs, owns, and holds its inventory, managing the full customer experience from selection to setup and retrieval. Founded by ex-Goldman Sachs professional Ajith Karimpana in 2012 as Rent Ur Duniya and rebranded to Furlenco in 2013, it had raised a prior angel round of $100k. In March 2015, Furlenco raised $6 million (Rs 38 crore) in a Series A round from Lightbox Ventures, with Sid Talwar joining the board. The funds were intended to scale operations in Bangalore, expand to other metros, enhance technology, broaden product range, and invest in services, targeting expatriates initially with packages up to INR 7500 monthly for 3BHK setups. |
Who has invested in Furlenco?
18 investors have backed Furlenco across its funding rounds, including Lightbox, Sheela Foam, Aamir Khan, InnoVen Capital, Kris Gopalakrishnan and HDFC Bank.
Lead investors include Sheela Foam, Zinnia Global Fund, InnoVen Capital, Aamir Khan and Lightbox.
Furlenco Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Mumbai | 4 | Lead | Mar 2015 | |
| India | 2 | Lead | Jul 2023 | |
| Aamir Khan | India | 2 | Lead | Dec 2017 |
 United States | 1 | Participant | Oct 2016 | |
 Umm Al Quwain | 1 | Participant | Jul 2021 | |
| Saket Burman | Dubai | 1 | Participant | Jul 2021 |
| Chowdry Associates | -- | 1 | Participant | Feb 2020 |
| Madhu Kela Family Office | -- | 1 | Participant | Dec 2025 |
| S.K. Burman | Ghaziabad | 1 | Participant | Feb 2020 |
 Ebène | 1 | Lead | Jul 2021 | |
| Mumbai | 1 | Participant | Dec 2025 | |
| Mumbai | 1 | Participant | Oct 2016 | |
| Mumbai | 1 | Participant | Oct 2016 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialFurlenco Competitors
Furlenco competitors include listed companies like ACI, Venu Holding, Alquiber Quality and Speedy Hire, and private ones like GoMore and Next Fit.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Croatia | Publicly listed | $44M | $114K | $92M | - | |
| United States | Publicly listed | $18M | ($40M) | $92M | 20.0x | |
 Spain | Publicly listed | $189M | $110M | $93M | 1.9x | |
 United Kingdom | Publicly listed | $559M | $84M | $94M | 0.8x | |
 Copenhagen | Private | - | - | $95M | - | |
 Criciúma | Private | $9M | - | $85M | 9.4x |
Furlenco Public Comps
Furlenco is still privately-owned, but its public comps include ACI, Venu Holding, Alquiber Quality, Speedy Hire, Freetrailer Group, Muenchener Tierpark, CGV Cinemas Indonesia, Aureus Greenway, Air T and Sicily By Car.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $44M | $114K | 1.9x | - | 749.3x | - | |||
| $18M | ($40M) | 20.8x | 20.0x | (9.3x) | (9.6x) | |||
| $189M | $110M | 1.9x | 1.9x | 3.3x | 3.3x | |||
| $559M | $84M | 0.8x | 0.8x | 5.5x | 3.6x | |||
| $20M | $8M | 4.6x | - | 11.9x | - | |||
| $21M | $915K | 4.1x | - | 92.1x | - | |||
| $71M | $19M | 2.2x | - | 8.1x | - | |||
| $3M | ($4M) | 19.9x | - | (16.6x) | - | |||
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Common questions about Furlenco
| When was Furlenco founded? | Furlenco was founded in 2012. |
| Where is Furlenco headquartered? | Furlenco is headquartered in Bangalore, India. |
| Is Furlenco publicly listed? | No, Furlenco is a private, VC-backed company. |
| What is Furlenco's valuation? | Furlenco was last valued at $92M in its strategic investment round in July 2023. |
| How much funding has Furlenco raised? | Furlenco has raised $111M across 10 funding rounds. |
| What was Furlenco's last funding round? | Furlenco's last funding round was a $14M undisclosed-stage round in December 2025, led by Sheela Foam. |
| Who are Furlenco's investors? | Furlenco's investors include Lightbox, Sheela Foam, Aamir Khan, AXIS Capital, Crescent Enterprises Venture Capital, Saket Burman, Chowdry Associates, Madhu Kela Family Office, S.K. Burman, Zinnia Global Fund and 8 others. |
| What is Furlenco's revenue? | Furlenco's latest recorded revenue is $19M (July 2023). |
| What is Furlenco's revenue multiple? | Furlenco's latest valuation implies a 4.8x revenue multiple ($92M valuation on $19M of revenue). |
| Which companies are comparable to Furlenco? | Companies comparable to Furlenco include ACI, Venu Holding, Alquiber Quality, Speedy Hire, GoMore and Next Fit. |
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