CasaOne, a furniture rental company has raised $50 million in debt financing from financial services company Credit Suisse. Thee firm stated that the funding will be utilized to support the overall growth of the business affording expansions into additional product categories within furniture, fixtures and equipment.
Shashank Shankaranarayana, Chief Executive of 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.”
BureauOne, a commercial furniture rental solution is the Bangalore and San Francisco based company’s another business. Previous year, CasaOne raised $16 million in its Series B funding round from a bunch of investors including Accel, Quiet Capital, HNI Corporate, WeWork, and from existing investors JLL Spark, Freestyle Capital, NextWorld, and Array Ventures.
The firm is presently working in its full capacity in 10 locations globally including San Francisco, Â Greater Los Angeles, San Diego, greater New York, New Jersey, Philadelphia, Connecticut, Washington DC, and Chicago.
“The flexibility and convenience of CasaOne and BureauOne’s product offerings are resonating with the market: especially when more and more US workers are working from home while enterprises are looking at greater flexibility in their office solutions,” Shankaranarayana added.