Ajith Karimpana: Newly weds looking to furnish? He's the man to fall back on!
In the age of constant transition, as more and more people are ready to pack their bags on a whim and set out on a new life, what happens to our belongings? Home décor can be extremely expensive and the downside of (having a beautiful home) is the fact its value only drops over time. When it’s time to sell, we’re forced to make do with a fraction of the cost and invest once more in brand new things.
Ajith Mohan Karimpana entered this market with a plan that promised to change the landscape in its entirety. The founder and CEO of Furlenco, Ajith’s solution makes it viable for expatriates, bachelors, students and even families to own beautiful furniture that doesn’t burn a hole in their pockets. Furlenco, which began in 2012, is the country’s first furniture rental startup.
Four years down the line, the company has given rise to a hugely successful trend, going on to expand its services to Mumbai and Pune as well. “Bachelors tend to sleep on locally-bought mattresses, making up our biggest part of the market. We started providing furniture for the cheapest price available on a subscription basis. We furnish their houses and they pay us a small amount of money every month,” Ajith explained.
He’s optimistic about 2017 of course, but he didn’t get his first real break until 2014, two years after he founded Furlenco. In January of that year, just before he got funded, Ajith’s bank balance amounted to a princely Rs 5000. “We made it through, though and managed to raise funds,” he said. “You need to be able to deal with a lot of pain and failure if you really want to build your own company.”
That saw him through the worst of it and in 2016, Ajith pulled off the company’s biggest accomplishment so far. They are rolling out a new product called POD – technologically advanced modular furniture. “It’s smart-furniture, which every bachelor will find very handy,” he said. “It comes with a double mattress, has its own lights, woofers, Bluetooth connectivity and a TV attached to one side of the bed. It also has a bookshelf, speakers and power points to charge your devices.” And how much is this going to cost you? Rs 2999 a month!
“The POD is the first large scale disruption that we have introduced,” said Ajith. “You might not want to buy it because it may not come in handy once you’re married and have kids. This way, you get the best of both worlds.” They don’t limit themselves to bachelors, in case you’re wondering. Furlenco caters to families as well, making it easy for people to rent furniture no matter what phase of their lives they happen to be in.”
Clearly, their plans are working. The company’s subscriber base quadrupled in 2016, revenues grew by 400 percent and business has expanded in two more cities as well. “We have also partnered with Nestaway, NoBroker and Air BnB,” said Ajith. He hopes set up a consumer base in Gurugram, Noida, Delhi and Hyderabad in 2017, saying, “We also want to offer Furlenco Kids, which will create a unique experience for children,” he said. That apart, he’s always on the lookout for newer, cooler stuff, referring proudly to the Float, a Bluetooth-enabled recliner chair. “I hope to keep this sustainable model going and maybe make my mark as well,” he said.
