According to foreign media FinSMEs, a few days ago, Feather, the American furniture leasing company, received another 30 million US dollars in financing (about 206 million yuan). It is understood that this round of financing will be used to expand the company's logistics infrastructure, develop new markets, and recruit more talents.
From its establishment in 2017 to today, in just three years, Feather has received US$76 million (approximately 530 million RMB) in equity and debt financing from investors.
Feather mainly provides furniture and home decoration rental services, mainly designed for young people in the city whose life is still unstable. Customers can choose from more than 350 kinds of furniture and home decor. These furniture covers a variety of styles, categories and brands.
Consumers need to choose the delivery date on the platform. The "Feather" team will deliver and assemble all the items in less than a week to meet the user's schedule.
In addition, in order to facilitate users’ lives, "Feather" also provides a furniture replacement service, where users can replace a piece of furniture or furnishings with other different items. The entire replacement process is completed by the company's team, who will send the new items selected by the user to the user's home and help install it. If users no longer need an item, they can contact the company's account manager and return the product directly.
Unlike traditional furniture leasing companies, Feather's customers do not need to pay a deposit for the furniture, but use a membership subscription system to increase user stickiness.
The rental period for non-members is three months, the cost of furniture delivery and installation is 99 dollars each time, and there is no discount on the monthly rent. The rental period for members is 12 months. Each time new furniture comes to your door, you can provide free express delivery and installation services. The monthly rent will be more discounted than non-members, and the furniture moving service will be enjoyed once a year.
Currently, "Feather" provides services in New York, San Francisco, Los Angeles, and Orange County. For the new round of financing, the company intends to continue to expand the company's business scope, and to enter a broader new international market, it hopes to bring services to more consumers around the world.
