Nordic scale-up NORNORM has closed €50 million in new funding to expand its circular Furniture-as-a-Service model, which replaces traditional ownership with subscription-based access. Houlihan Lokey advised the funding round, with existing investors Verdane, Inter IKEA, Philian AB and Banco Santander reaffirming their support.
© NORNORM
The funding reinforces NORNORM's market position and growth strategy while maintaining profitability. Since launch, the company has generated €14 million in annual subscription revenue, furnished over 360,000 square metres of office space, and remains operationally profitable across core markets.
NORNORM's model extends the lifespan of furniture up to three times and allows businesses to scale resources flexibly, reducing costs, waste, and emissions. The company now operates in 17 countries and 59 cities, serving more than 36,000 employees.
CEO and founder Anders Munk Jepsen said the funding provides "strength and flexibility to stay in control of our growth path while staying profitable" and will accelerate adoption of the circular model across Europe. Erik Osmundsen, Partner at Verdane, added that NORNORM "demonstrates how circular business models can combine sustainability with commercial success" and is setting a new standard in the furnishing industry.
Source: www.bigfurnituregroup.com
