Furlenco raises $140 million to enter new cities, widen portfolio

Currently in 13 cities, firm will serve 15 cities by year-end, including Tier-2 market; also exploring options to enter Dubai and Singapore next year

Online furniture rental startup Furlenco has raised $140 million in a mix of debt and equity as part of its latest funding round led by Zinnia Global Fund. Along with Zinnia, CE-Ventures and Lightbox Ventures also participated in this round. While it raised $120 million in debt, the company raked in $20 million in equity. With this round Furlenco has raised over $200 million so far, most of it in debt funding.

The Bengaluru-headquartered startup would be using the funds to enter newer geographies, expand workforce, and widen its portfolio.

“Until now Furlenco was utilitarian. We are now going to be adding