Even in depressed market conditions, this startup gets Rs 375 crore in debt financing
New Delhi: CasaOne, a startup engaged in furniture renting business, has got around Rs 375 crore (USD 50 million) as debt-financing from Credit Suisse.
The money will be utilised to further the growth of the business and introducing new product categories of furniture and equipment.
CasaOne has raised USD 16 million last year. It was company’s Series B funding and the round was led by Accel, Quiet Capital, HNI Corporate and WeWork. The existing investors of the company like Freestyle Capital, JLL Spark, NextWorld and Array Ventures had also participated in the round.
CasaOne has an offering called ‘BureauOne’ which is a commercial furniture rental solution.
“This round of finding will help us in catering to those business opportunities which are emerging from the current corona crisis,” said Shashank Shankaranarayana, CEO, CasaOne in a statement.
CasaOne has is present in 10 global markets and hopes to expand fast.