Danish-Swedish furniture-as-a-service company NORNORM secured €50M in mixed equity and debt from existing investors including Inter IKEA, Verdane, Banco Santander, and Philian Invest (H&M heir Karl-Johan Persson’s investment vehicle), bringing total capital raised to €170M. Founded in 2020 by former IKEA executive Anders Munk Jepsen and Skype co-creator Jonas Kjellberg, Nornorm rents office furniture to businesses on flexible subscription basis with six-month cancellation notice, focusing on easily refurbished pieces sent to warehouses for repair and re-rental.

The company more than doubled revenue in 2024 from €1.47M to €3.11M and achieved profitability for the first time, operating a circular business model where reuse and refurbishment directly improve margins rather than encouraging higher material consumption.

NewFlex announced their newest Quad location. Within the announcement they do mention that they’ve opted for high-quality sustainable furnishing by NORNORM.

Caleb Parker chats with Douwe Dirks from NORNORM about the circular ecosystem, furniture-as-a-service, and furniture’s role on the evolution of flex space business models on the WorkBold podcast.

Herman Knevel shares an announcement from IWG about a partnership with Nornorm to redesign its offices, starting with its high-end Signature brand and Spaces locations.

The latter designs workplace furniture and rents it on a subscription basis. Founded on the idea of maintaining, refurbishing and reusing furniture, the startup allows customers to change their fitouts or scale them up and down as needed.

Workspace management platform Good Monday (recently acquired by DEAS Group) are partnering up with NORNORM the furniture subscription startup to offer offices and workspaces the ability to easy adapt office layouts as needs change. (Article in Danish)

I expect more big moves in the middle of the Venn diagram between coworking, remote working and furniture as a service. Watch this space.