Copenhagen-based NORNORM, the Nordic scale-up pioneering circular Furniture-as-a-Service (FaaS), has raised €50M to accelerate growth and strengthen its leadership in sustainable office furnishing.
The round, advised by Houlihan Lokey, saw continued commitment from all existing investors, including Verdane, Inter IKEA, Philian AB, and Banco Santander.
Turning ownership into access
Founded in 2020, NORNORM replaces traditional office furniture ownership with a subscription-based model that extends product lifespans by up to 3x. Customers benefit from flexible scaling while reducing both costs and environmental impact. Since launch, the company has furnished 360,000 sqm of office space and enabled more than 36,000 employees to work in sustainable, design-led environments.
NORNORM is now operational in 17 countries and 59 cities, serving global names such as Volvo, Electrolux, Netflix, Wolt, Miro, IWG, Castellum, EDGE, and Holland & Barrett. The company has already reached €14M in annual subscription revenue and reports profitability in its core markets.
“This funding gives us the strength and flexibility to stay in control of our growth path while staying profitable,” said Anders Munk Jepsen, CEO and founder of NORNORM. “With a stronger financial position, we can accelerate adoption of our circular furnishing model across Europe and cement our role as a frontrunner in the circular economy.”
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Backing Europe’s circular economy
The new funding supports faster scaling of NORNORM’s model, with a strong focus on technology and AI to optimise operations, manage refurbishment cycles, and deliver greater efficiency. By building an end-to-end circular ecosystem, the company aims to cut workplace waste and emissions while setting new standards for sustainability in the furnishing industry.
Erik Osmundsen, Partner at Verdane, commented:
“NORNORM proves that circularity can be both environmentally necessary and financially attractive. The company continues to set a new standard in the furnishing sector, showing that sustainable business models can scale profitably. We’re proud to keep supporting their journey.”
Looking ahead
NORNORM is targeting profitability in all core markets by 2026 while expanding its FaaS offering across Europe. With its combination of subscription-based flexibility, sustainability, and design, the company is positioning itself as one of Europe’s most impactful circular economy leaders.
