Furlenco raises Rs 2 crore from Bollywood actor Aamir Khan

Online furniture firm Furlenco has raised Rs 2 crore (approx $300,000) from Bollywood actor Aamir Khan. Even though it is a small amount the investment is expected to give a boost to the company as the actor has a massive fan following in the country.

Aamir Khan, known as Mr Perfectionist in the Indian film industry, is also extremely selective when it comes to associating with brands and his association with Furlenco is likely to improve the brands credibility among the Indian masses.
Even though the actor has made an investment of Rs 2 crore in the firm as per documents filed by the company with the Registrar of Companies (RoC), according to sources it is very unlikely that the actor will endorse the brand. Aamir Khan is one of India’s highest paid actors and charges an endorsement fee of Rs 5 crore a day.
Bengaluru-based Furlenco, one of the largest furniture rental companies in India, had earlier raised $30 million in October last year which was used in expanding the company’s geographical presence and product portfolio.
India’s furniture market is estimated to be around $ 16 billion while the furniture and appliances rental market is $5-7 billion as a result of which many investors are turning to the few established furniture rental start-ups in India.
Founded in 2012, Furlenco (short for furniture rental company) is owned by Kieraya Furnishing Solutions with operations in Mumbai, Pune, Bengaluru, Delhi, Gurugram and Noida. The company expects to break even by the end of this financial year March 2018.

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