Wed May 18 2022
1 min read
India’s leading Revenue Based Financing platform, Klub, announced today that House of Kieraya (HoK), well known for its brand Furlenco, has raised an undisclosed amount of revenue-based financing through its platform. The company will use the fresh funds to strengthen its business by scaling its operations.
Founded by Ajith Mohan Karimpana, the company now has presence across major Indian cities which include, Bengaluru, Delhi/NCR, Hyderabad, Chennai, Mumbai and Pune among others. The offerings include a wide range of furniture and appliances as part of its various plans. Apart from Furlenco, in recent quarters, the Company has expanded its offering via UNLMTD, Furbicle and Prava to become the one-stop destination for all home and lifestyle needs. As of today, more than 2,50,000 households have been furnished by the startup. Currently, the company is in the Series D stage.
Ajith Mohan Karimpana, Founder and CEO at HoK said,
“We are delighted to raise funds through Klub’s platform as it allows us to operate and scale our business without any equity dilution. With lifestyle evolving in urban India at an exponential rate, we constantly need to tap into newer potentials and with Klub’s founder-friendly funding approach, we are able to get through this exciting phase.”
Subhashish Bhadra, Director at Klub stated,
“We are always on the lookout for brands that are simplifying user experience and are also adapting as per the changing landscape. When the opportunity to invest in HoK was subscribed to our platform, our fund, Aceler8, deployed substantial capital with HoK within 3 hours. We see this as the beginning of a long-term partnership.”
Klub provides new-age businesses with fast, flexible, founder-friendly capital. The company provides growth capital to digital brands without founders having to dilute equity in as less as 2 days. Since its inception, Klub has funded over 250+ brands with over 450 investment rounds.