Rent Furniture Affordably and Easily With CityFurnish

Furniture, appliances, interior equipment adds life to a space be it home/ office/ gym/ restaurant. Primarily because these units besides keeping space organized, makes our lives easy and efficient. However, owning high quality, well designed, highly efficient furniture and appliances could cost you heavens. But now, with CityFurnish in the market, one could own such furniture and appliances based on rental subscriptions. CityFurnish is a Gurugram based startup which provides wide array of products within the domain of furniture and appliances on rental subscription.

Startup Name CityFurnish
Headquarter Gurugram
Sector Online Furniture and Appliances Rental Subscription
Co-Founders Neerav Jain , Saurabh Gupta
Founded 2015
Parent Organization CityFurnish India Pvt Ltd.
Website cityfurnish.com


About CityFurnish and How it Works
Furniture and Appliances Industry Details
Founders of CityFurnish and team
How was CityFurnish Started
CityFurnish - Name, Tagline, and Logo
CityFurnish - Business Model and Revenue Model
CityFurnish - User Acquisition
CityFurnish - Startup Challenges
CityFurnish - Funding and Investors
CityFurnish - Advisors and Mentors
CityFurnish - Awards
CityFurnish - Competitors
CityFurnish - Future Plans

About CityFurnish and How it Works

CityFurnish provides products ranging from furniture, furnishings, consumer appliances and fitness equipment on rental subscription. Besides offering hi-quality rental products for residential purpose, the company also has an accelerating presence into the commercial and hospitality segments

The vision is to be a benchmark in country’s Furniture Rental Industry. The brand is currently servicing cities including Delhi NCR, Bengaluru, Mumbai, and Pune and is now working on expanding to Hyderabad and Chennai. The company aims to expand its business in 14 cities by 2020.

The key focus area for CityFurnish founder, Neerav Jain is to drive the Company towards growth by way of strengthening the brand and by leveraging upon inherent strengths of the business, offering a one stop solution to customers for their complete furniture and furnishing needs.

So as to avail the services of City Furnish, one has to follow the three steps enlisted below:  

  1. Choose from the variety of products, packages and add-ons available, if there is no package catering to your needs; you can make your own package by adding the individual items in your cart.
  2. Make the advance payment for one month and provide some documents for the KYC process.
  3. Just wait for the delivery of the products which will be done within a period of maximum for 72 hour.

CityFurnish is revolutionizing the furniture industry by providing  quality furniture and home appliances on easy monthly rental. Renting furniture is the new way to live, it is easy on the pocket, and can never be stuck with the same old furniture for years and hence, get a chance to renovate the home quite as and when one desires. One can change the furniture according to their needs and not even have to deal with the hassle of buying/selling, shifting and relocating.

CityFurnish is the expert in the furniture rental business. That is because their products are thoughtfully designed to provide utmost comfort and crafted in their own state of the art manufacturing facility based in Rajasthan.

Relevant Read: RentRoomi - Not Just the Room, Find Your Preferred Roommate Too

Furniture and Appliances Industry Details

The Indian Furniture Market is anticipated to register a CAGR of 13.38% during the forecast period i.e. 2018-2023. The  market is expected to reach USD 61.09 Billion by the end of 2023.  Further, the India furniture market is anticipated to achieve a Y-o-Y  growth rate of 14.30% in 2023 as compared to the previous year.

The technological  advancements such as availability of high speed internet networks such  as 4G and spiked absorption of smart gadgets is boosting the e-retail  sector in India. These advancements further provide ease to the  customers to buy furniture through online channels. Additionally, the growing online furniture selling companies are creating great boost to the furniture industry.

While, the total furniture market is $20 billion and growing at 15% YoY, Rental market currently is valued at $6b in India. The team at CityFurnish estimates that in the next five years the total market for rental furniture would be above $20b in India.

Founders of CityFurnish and team

Neerav Jain is the Co-founder and CEO of CityFurnish. Having worked in various key positions at Climpex Furniture and his family business Chandra shekhar Exports before finding CityFurnish, in a career spanning 3 years, Neerav has extensive experience in furniture industry in managing sales, marketing and Business management (B2B and B2C) and formulating strategies for growth with an overall business perspective.

Saurabh Gupta, is a Co-founder and CTO. He completed his M.Tech from IIT Roorkee. Before joining Neerav Jain as the Co- founder at CityFurnish he has worked with Vodafone and Amdocs and has experience spanning 10 years. Saurabh is a skilled technology  professional and possess expertise in digital marketing.

Currently CityFurnish has a team of 90+ member across 5 cities. Work culture is value driven to provide value to their customers. At present, they are hiring aggressively and aims to have 200+ staff by March 2020.

How was CityFurnish Started

Neerav hailing from a family of furniture-makers in Jodhpur always had furniture as a regular part of his life. One thought- which is the absence of an alternative to buying expensive furniture for short term has struck Neerav and has not left him until he finally established, CityFurnish. He along with his team has conducted, 200+ interviews to validate the idea. Receiving positive response, CityFurnish took the shape of reality.

When we started, almost 99 percent of people in India bought furniture. Renting and subscription was a very niche category because  it was looked down upon as a compromise on either product or service.  We were trying to change that perception and influence user behavior.  We did not want our customers to feel inferior for renting furniture- Neerav Jain

Neerav wanted to explore the rentals space that had picked up in India. Mainly, with the increasing salaried young adults living away from their hometowns and moving houses regularly. For such individuals who are constantly on the move, owning the necessary furniture like beds, sofas, tables not only costs high on their pockets but also makes city-hopping harder. Hence, to encash upon such population of the community, Neerav worked upon creating a platform for rented furniture.

Initially, CityFurnish followed hotel booking model. This model included asking people for a start date and an end date for renting. As a result, most of the users subscribed for a short period. Now, they have moved to a  Netflix-style subscription model, and that has helped them increase  customer retention from 35 percent to more than 52 percent.

When we started, we were more focused on acquiring customers. Now, we want to retain more. So, we are offering a 30-40 percent price benefit to renewing customers. We have also launched a free relocation service for customers who are moving cities in the middle of their subscriptions.

CityFurnish started with just 50 rentals (or subscriptions) in Gurugram. Since then, the startup has grown to about 10,000 live subscriptions in three years, with a presence in Delhi-NCR, Bengaluru, Mumbai, and Pune. It has also set up nine fulfillment centers in five cities and expanded its furniture lock-in period from 3-6 months to 24 months.

CityFurnish intent was to highlight that their prime target audience along with the core service they are providing. It also stands for the commitment of the team at CityFurnish to furnish any city for their users ‚Äď hassle free and affordably.

CityFurnish Logo
CityFurnish Logo

Relevant Read: RentLite - Get Stylish Office Furniture On Rent

CityFurnish - Business Model and Revenue Model

CityFurnish has packages suiting wide sections of the community ranging from students, family to corporate setup. These packages are priced on the basis of monthly subscriptions. The basic package starts at Rs. 929/month and goes up to around 5000 for other packages.

The unique feature about CityFurnish that sets it apart from its competitors is their end-to end services. Besides designing and manufacturing its own premium furniture, CityFurnish, unlike many of its peers also controls the end-to-end value chain from product sourcing to fulfillment and delivery. It even services installation and maintenance requests from customers.

‚ÄúWe ¬†not only have in-house designers and manufacturers, but our team also ¬†provides the ‚Äėwow‚Äô factor for customers. For instance, our delivery boys ¬†will roll out the dining mats or tuck in the bedsheets. There is no ¬†third party involved, and we control the entire user experience.‚ÄĚ

A premium service comes at a premium cost, of course. An average monthly subscription for a 2BHK flat costs about Rs 4,000-5,000 on CityFurnish. However, prices fluctuate city-wise due to regional factors.

The home furniture accounts for over 55 percent of CityFurnish’s subscriptions. Since recently, its commercial customers have been growing with shared workspaces gaining ground  in India. Its current clientele consists of large corporates like  Toyota, Indian Oil, and Samsung, as well as local startups

CityFurnish - User Acquisition

CityFurnish started with just 50 rentals (or subscriptions) in Gurugram. Since then, the startup has grown to have 10,000 live subscriptions in three years, with a presence in Delhi-NCR, Bengaluru, Mumbai, and Pune. It has also set up nine fulfillment centers in five cities and expanded its furniture lock-in period from 3-6 months to 24 months.

For the first 100 customers CityFurnish has used techniques like interview at metros and office hubs, expat meets, broker channel etc. Later on, they have adopted broker tie ups; referral marketing; expat Partnerships; relocation and Moving company partnership as strategies to expand their scope and reach among their customers. Besides these strategies, they also release coupons regularly to both retain their customers and get new customers.

CityFurnish - Startup Challenges

In India furniture market is pretty big however 90% of the buyers prefer offline shopping furniture due to trust deficit about the quality. Nevertheless, Neerav's family legacy in furniture making and his experience in the domain has helped him to create sophisticated, elegant and quality furniture and thereby, provide CityFurnish customers a "superior experience".

At the service end, proving white glove delivery experience involved lot of operations challenges, however, CityFurnish was able to overcome the same by training and organizing workshops for its installation and delivery team.

CityFurnish - Funding and Investors

Date Stage Amount Investor
March 2019 Series A $5m GFC, Venture Highway , FJ Labs etc

Until now, CityFurnish has raised close to $600,000 from Times Group-owned Brand Capital, and a few undisclosed angels. CityFurnish also received $150,000 from Y-Combinator against 7 percent equity stake. The startup is looking to raise another $2 million by the end of 2019.

CityFurnish - Advisors and Mentors

CityFurnish by the virtue of its wide scale of operations and gaining popularity have the best of the market as their advisors and mentors. One of the prominent mentor include, Youtube Cofounder ‚Äď Steve Chan, who is also one of the CityFurnish's investor.

Relevant Read: Autofurnish- An e-Commerce Site for Best Quality Car Accessories

CityFurnish - Awards

Early in 2019, it became one of the four Indian startups to be shortlisted by Y Combinator (the top see accelerator in the US) for a 12-week programme. In exchange of a 7 percent equity stake, CityFurnish will gain mentorship,  funding, and access to top investors in Silicon Valley.

CityFurnish - Competitors

In the furniture rental market the main competitors for  CityFurnish are Furlenco and Rentomojo. Like any domain, it faces little competition from the unorganized sector side, which constitute players like Sab Rent Karo, Rent Macha  and FlatFurnish among others.

Nevertheless, the team at CityFurnish is confident about their business having only growth in future. They believe that their unique amalgamation of technology and product which is entirely focused on  fulfilling customer need, is what sets them apart. Since the startup manufactures and designs  their furniture at their own facility in Jodhpur, it provides them  tremendous advantage over their competitors. By having a controlling  over the quality and cost of their products, the rental startup  is able  to manage inventory at more than 95 per cent efficiency than its major  competitors and  at the same time enable a faster collection of their  payments.

Relevant Read: Shop, Save and Earn with LaYuva

CityFurnish - Future Plans

With more sticky customers, revenues are looking up as well. CityFurnish claims that it has hit an ARR of $3 million and its revenues are increasing 150 percent year-on-year. Subscribers, meanwhile, are growing 11 percent month-on-month with a 1.5 percent churn (those who drop out).

Over the next two months, CityFurnish will roll out in Hyderabad, Chennai, and Ahmedabad. It has set a target of one million subscribers by 2021, with an ARR of $70-80 million.

As far as product range is concerned, the startup is planning to expand towards kids' furniture. At present, their product categories include home and office furniture, consumer durables and appliances, electronics, and fitness equipment. It will launch kids’ furniture shortly as it sees it as a prospective high-growth vertical.

‚ÄúWe ¬†see it as a perfect subscription category because kids tend to outgrow ¬†furniture every 1-2 years. Hence, it makes more sense to rent than to ¬†buy. We‚Äôre trying to bring depth and variety to it.‚ÄĚ

For expansion along these lines, the startup aims to focus on the population of age group 24-38.

Author image

About Chayanika Goswami

  • Assam
dismiss