Online subscription-based rental furniture platform Furlenco has raised debt from his investors, Black Soil Capital and Crescent Enterprise Limited.
Company has allotted 400 convertible debentures of Rs 500,000 each to Black Soil Capital Private Limited to raise Rs 20 crore in debt. Additionally, the company has allotted 24,00,00 compulsory convertible debentures at face value of Rs 100 crore each to raise Rs 24 crore from Crescent Enterprises Limited.
The fresh debt comes after two months of raising Rs 53 crore in debt financing from four investors. The eight-year-old firm has raised an estimated $43 million in equity and around $56 million in debt funding till date.
