Subscription-based furniture rental startup Furlenco reported Rs 240 crore revenue in FY25, up 59% YoY from Rs 152 crore, and swung to a Rs 3 crore profit from a Rs 130 crore loss in FY24. The Bengaluru-based firm credited improved operational efficiency and cost cuts for the turnaround. For the interiors and real estate sectors, the shift signals growing consumer demand for flexible furnishing models over ownership in Indiaโs urban rental markets.
Revenue from operations grew 64% to Rs 229 crore, with subscription revenue from furniture rentals rising to Rs 208 crore from Rs 129.5 crore. Furniture sales doubled to Rs 21 crore. Founded in 2012 by Ajith Mohan Karimpana, Furlenco targets young professionals, students, and frequent movers seeking high-quality furniture without long-term commitments. The platform offers monthly rentals for furniture, appliances, and dรฉcor, plus swap and purchase options. For developers and co-living operators, the data shows rental FF&E packages gaining traction as amenity-led leasing tools.
Total expenses fell 16% to Rs 237 crore as employee benefit costs dropped 36% to Rs 30.7 crore and finance costs declined to Rs 18.6 crore. Material costs rose 32% to Rs 8.2 crore and depreciation increased 28% to Rs 44.5 crore. The company spent Rs 1.03 to earn every rupee in FY25 versus Rs 2.02 in FY24. EBITDA margin improved to 24.45% from -54.68%. Net cash from operations turned positive at Rs 50.8 crore versus negative Rs 75 crore. For asset managers, leaner FF&E ops support scalable furnished apartment inventory in build-to-rent projects.
Furlenco now operates in Bengaluru, Mumbai, Pune, Delhi-NCR, Chennai, and Hyderabad with further expansion planned. The model addresses inefficiencies in furniture ownership for a mobile urban generation, a gap Karimpana identified after recovering only 10% of furniture value when relocating from New Jersey to Bengaluru. As of 2026, the firm sits under parent House of Kieraya Limited. For interior designers and project consultants, the platform offers plug-in furnishing for staged homes, model apartments, and short-term corporate housing.
Furlenco has raised about $315 million to date, with Sheela Foam and Lightbox Ventures as key investors. It secured Rs 125 crore in December 2025 from Sheela Foam, White Oak Capital, and Madhu Kela. With positive EBITDA and cash flow, the company is positioned to scale in Indiaโs furniture rental market. Read more on the company at Furlenco.
