When contacted, Furlenco’s founder Ajith Mohan Karimpana declined to comment on the matter. Khan could not be reached immediately for a comment on his investment in the company.
In India, such investments by celebrities are typically of small value but it helps the startups in using their vast reach across the country. It is not clear yet if Khan will also be the brand ambassador for Furlenco.
Founded in 2012, Furlenco is run by Kieraya Furnishing Solutions across six cities in India. The company has about 4,000 monthly consumers purchasing a furniture rental subscription. In total, it has raised about INR 240 crore in a mix of equity and debt funding. Khan’s investment comes in Furlenco at a time when it is also picking up small debts at regular interval, people aware of the matter said. The company competes with the likes of Rentomojo and Pepperfry.