CasaOne raises $50mn from Credit Suisse

The furniture rental firm will use the proceeds to support its overall business growth as well as its expansion into newer categories.

Furniture rental company CasaOne raised $50 million in debt financing from multinational financial services group Credit Suisse.

The Bengaluru and San Francisco based company will use the proceeds to support its overall business growth as well as its expansion into newer categories within the furniture, fixture, and equipment space.

Shashank Shankaranarayana, CEO, CasaOne, said: “In light of COVID-19, we are seeing a further acceleration in demand for on-demand, flexible furniture rental and leasing options in addition to remote work or work from home solutions. This funding will help us expand into newer equipment categories to support businesses emerging out of the current crisis.”

The debt infusion from Credit Suisse comes after the company last year raised $16 million in a Series B funding round led by Accel new and existing investors such as Quiet Capital, HNI Corporate WeWork, JLL Spark also participated in the round.