Co-working space operator WeWork has participated in a $16m round for US-based furniture rental company CasaOne, according to the Wall Street Journal (WSJ).
The round reportedly valued CasaOne at $100m to $150m and was led by venture capital firm Accel with participation from other unnamed investors. WSJ’s sources indicate WeWork contributed $2m to the deal.
CasaOne leases home furniture through its online platform across six urban centres in the US. Monthly instalments help its customers rent higher-value furnishings than they could afford on their own, and professional interior guidance is offered to help them pick the right aesthetic.
The company secured an undisclosed amount of seed funding from Accel in 2018 and its other early investors include JLL Spark, the corporate venturing arm of real estate services firm JLL Spark, as well as Freestyle Capital, Array Ventures and NextWorld Capital according to portfolio pages and media reports.