Furnome: Branded and affordable accommodations

Yashwanth Jembige, Anshul Mishra & Anurag Dixit ,Co-FoundersBangalore based Furnome, the brainchild of Anshul Mishra, Anurag Dixit and Yashwanth Jembige started with a vision to provide a better accommodation lifestyle to the migrating population only to realize later that the entire rental cycle needs an overhaul. Both Anurag and Anshul realized the scarcity of furnished homes while house hunting. Through various surveys they analyzed that there is a good potential for a venture which provides furniture for rent. Eventually they met their third co-founder Yashwanth, who with his huge experiences in previous ventures brought in deeper insights into owners' pain points while renting a property. Clubbing the property management aspect with the furniture rental model, they zeroed in upon creating Furnome as a brokerage free furnished homes and co-living spaces. "The problem identified was that people moving to a new city tend to compromise on the lifestyle owing to uncertainty of the period of stay and lack of affordable options. Hence a product to provide brokerage free end to end property management to the house owners with affordable premium homes for tenants was created," says Anurag.

The journey started in 2016 in a room with an idea on a whiteboard, a belief among a bunch of people, and countless uncertainties outside the room. Two years down the line, with a bigger white board, more believers, a
family of 2000+ tenants and 100+ house owners to support the company proudly manages 800+ properties in Bangalore. The team strives to explore the markets potential, improvise and keep on solving the problem even more efficiently.

The company offers a wide range of services to ensure a better experience for its customers. "Providing a customized furnishing basically helps a customer reduce extra cost for non-required furniture which works towards the affordability aspect too. We also wish to help people customize the kind of people they want to stay around. We provide them an option to choose flatmates by providing few details and connecting them before they move-in. Besides, we give them an option to later switch internally, if they later realize better compatibility with someone else," explicates Anshul. It also provides corporate housing tieups where in they offer facilities to corporates who can extend the same to their employees and be assured of the quality and standard of their stay.

Furnome offers a wide range of services to ensure a better experience for its customers

Helping house owners find verified tenants
To ensure security, the company does stringent background verification through various verification channels to curb any chances of wrong doing. This also helps owners build trust in their tenants and Furnome. It allows customers to browse through its website, check the amenities for each property and based on the requirements schedule a visit for the shortlisted ones. After checking the property, the team gives the customer options to customize the furnishing as per the requirement. This ensures that a customer only chooses and pays for only what he/she needs. "In some cases where a customer is unable to find a suitable place at Furnome, we take valuable feedback from them and also update them in future in case of any availability based on their requirements," he avers.

The Growth
The company has created a set a branded accommodation during these and since 2016 the revenue has increased by 150 percent Y-O-Y. It has a family 3000+ clients and as many number of beds spread across 40+ locations in Bangalore. The current average growth rate is 80 beds per month and the team is innovating ways to scale it up with a higher growth rate. The company plans to launch its co-living spaces in three other metro cities within a year. "As of now we are growing deeper in Bengaluru as this will fuel our growth elsewhere. We plan to reach 6000 beds in Bengaluru by the end of 2020," he concludes.