Beleco completed a $2M investment round from Almi Invest and private investors.

Beleco, a Stockholm, Sweden-based company operating a marketplace for rental of furniture, announced in a press release securing a capital raise of SEK 18M ($1.9M).

Investors backing the round include the Swedish governmental agency Almi Invest, which contributed with SEK 6M. The funding will be used for increased technology development, marketing and international expansion.

Beleco, founded in 2016 by Marie Rudenstam (CEO), Sebastian Rudenstam and Pontus Gustafsson, built a digital marketplace where furniture manufacturers rent new and used design furniture, mainly to companies but also to private individuals. The company works with customers including Samsung and Sony, and had a SEK 1.5M ($150k) turnover registered in the 2018 official books.

Prior to this transaction, Beleco raised about half a million dollars from Swedish angel investors.