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India Startup

This startup took just 2 years to record an annual revenue of INR 4.2 crores

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A series of personal experiences pushed this young, first time entrepreneur, to kickstart City Furnish; a fast-growing startup that, in a time period of around 2 years recorded INR 4.2 crores in annual revenue.

Neerav Jain, Founder and CEO of CityFurnish, informed The Big Binge that CityFurnish has an asset book of more than INR 10 crores and has already acquired a rich clientele that includes MNC’s like Coca-Cola and Toyota. Further elaborating on this, Jain said,“CityFurnish started in September 2015 serving Gurgaon market only and later it grew to serve Delhi, NCR, Mumbai and Bangalore markets. Currently, we are operational in 6 cities and plan to further expand to 9 more cities, taking total cities to 15 by the end of 2020. Within 2 years of our inception, we achieved 5000+ users and got over 2 lacs assets rented. We are also working with a range of MNCs and Indian giants including Coca-Cola, Toyota and Republic Of Chicken among others.”

When questioned about the struggles and challenges faced at the start of this journey with City Furnish, Jain replied,“Few of the challenges I faced while establishing CityFurnish were building a core team and finalising a ‘go-to-market strategy’. Starting with limited capital taught us frugal ways of developing strategies and creating early customers. We hired ‘Jack of All Trades’, this helped us to scale multifold. The biggest challenge was to develop a tech-enabled model to optimise product management and deployment based on minimum unit costing.”

Informing The Big Binge about City Furnish’s revenue growth, Jain stated,“Our revenues have grown from INR 48 lacs from September 15 – March 16 to INR 4.2 crores for April 16 – March 17.”

(editor@thebigbinge.com)



 

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