NORNORM, the Nordic scale-up redefining office furnishing through a circular Furniture-as-a-Service model that turns ownership into access, has announced the successful closing of €50 million in new funding, advised by Houlihan Lokey.
All existing investors including Verdane, Inter IKEA, Philian AB and Banco Santander have reaffirmed their commitment.
The new funding strengthens NORNORM’s market leading position and supports its strategy to expand while staying profitable. The company has reached €14 million in annual subscription revenue, furnished over 360,000 sqm of office space since launch and is operationally profitable in all core markets.
NORNORM’s model replaces traditional ownership of office furniture with a Furniture-as-a-Service subscription, extending the lifespan of products up to three times while offering flexibility for businesses to scale up or down as needed. By doing so, NORNORM reduces costs for customers while cutting waste and emissions in the workplace sector.
NORNORM’s circular Furniture-as-a-Service model is rapidly expanding its international reach, now serving 17 countries and 59 cities and furnishing workplaces for more than 36,000 employees. The combination of sustainability, flexibility and design-led solutions is driving significant growth, positioning NORNORM as a leading force in the circular economy.
This funding powers NORNORM to scale its circular model faster, using technology and AI to deliver a game-changing, sustainable alternative to traditional office furnishing.
“This funding gives us the strength and flexibility to stay in control of our growth path while staying profitable. With our strengthened financial position, we can accelerate the adoption of our circular furnishing model across Europe and further consolidate NORNORM’s role as a frontrunner in the circular economy,” said Anders Munk Jepsen, CEO and founder at NORNORM.
“NORNORM continues to demonstrate how circular business models can combine sustainability with commercial success. The company is setting a new standard in the furnishing industry, proving that circularity is not just environmentally necessary but also financially attractive. We are proud to continue supporting NORNORM on its journey,” said Erik Osmundsen, Partner at Verdane.
