Cityfurnish Raises $2.5 Million In Debt Funding Round With this funding, Cityfurnish aims to expand its operations, strengthen the company's brand position, technology and presence in different cities by 2025
By Teena Jose
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Cityfurnish has announced the close of a $2.5 million financing round, including debt and equity bringing the total amount raised to date to $10 million in equity and debt, to further its mission of bringing unprecedented ease and flexibility to the home furnishing experience. The debt round was led by Northern Arc Capital along with the participation from Western Capital and UC Capital Inclusive and existing backers. With this funding, Cityfurnish aims to expand its operations, strengthen the company's brand position, technology and presence in different cities by 2025.
According to surveys conducted by Cityfurnish team, the users had no alternative to buying expensive furniture for their flexible requirements. Keeping these pain points in mind, the team of founders at Cityfurnish is on a mission to make furniture renting experience better than buying furniture.
Cityfurnish has a full stack model which includes in house designing of the furniture using solid sheesham wood to controlling the last mile delivery and assembly of the furniture. And what makes Cityfurnish stand out is all of this is done with 72 hour free delivery and service like free maintenance and free relocation or upgrade, as per the company's statement.
Following the Series A round of funding which included investors like YCombinator, Venture Highway, Global Founders Capital and marquee angels like Gmail creator Paul Buchheit and YouTube co-founder Steve Chen, the company had turned profitable and recorded more than 100 per growth in revenue through 2022. It is currently present in Delhi NCR, Bengaluru, Mumbai, Pune, Hyderabad and Chennai, the statement added.
Founded in 2015, by Neerav Jain and Saurabh Gupta, Cityfurnish is an online furniture rental platform where users can rent furniture as an alternative to buying for flexible requirements.
