Furlenco raises Rs 44 Cr in debt

18/01/2021

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Bengaluru: Subscription-based online rental furniture platform Furlenco has raised another debt round from Black Soil Capital and Crescent Enterprise Limited.

The Bengaluru-based company has allotted 400 convertible debentures of Rs 500,000 each to Black Soil Capital Private Limited to raise Rs 20 crore in debt, regulatory filings show. Additionally, the company has allotted 24,00,00 compulsory convertible debentures at a face value of Rs 100 crore each to raise Rs 24 crore from Crescent Enterprises Limited for a tenure of 3 years.

Founded by former Goldman Sachs and Morgan Stanley executive Ajith Mohan Karimpana, Besides furniture, Furlenco provides furniture and home decor on rent. Besides, it also provides relocation service in case of moving to a new house and served in eight cities including Bengaluru, Mumbai, Pune, Hyderabad, Delhi NCR, and Chennai.