[Funding alert] Pepperfry raises Rs 35 Cr debt capital led by InnoVen
The online furniture startup Pepperfry has raised Rs 35 crore in debt funding led by InnoVen Capital. The startup has seen significant growth in the past months with improved economics for the business. The startup had raised funding last February.
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The online furniture startup Pepperfry has raised Rs 35 crore in debt capital raised by the venture debt firm InnoVen Capital. The startup has seen significant growth in the past months, with improved economics for the business. The startup had raised funding last February.
Neelesh Talathi, CFO, Pepperfry said in the press statement, “We are pleased to deepen our partnership with InnoVen Capital. We remain focused on expanding Pepperfry’s leadership position in the Indian furniture and home ecommerce. Our business has seen strong momentum through Covid and we continue to make good progress towards achieving profitability and managing cash fl
Pepperfrys business witnessed strong growth momentum through the pandemic and the company is on track to achieve profitability, CFO Neelesh Talathi says.
Pepperfry gets Rs 35 crore infusion from Innoven Capital: Report
Pepperfry saw “strong growth” through the COVID-19 pandemic and is on track to profitability. February 12, 2021 / 09:20 AM IST
Venture debt fund Innoven Capital has infused Rs 35 crore into Pepperfry – its third investment in the online furniture retail platform.
“The funds will be used to increase our footprint across the country and capitalise us even beyond achieving profitability,” Neelesh Talathi, CFO, Pepperfry told The Economic Times.
Notably, the company saw “strong growth” through the COVID-19 pandemic and is on track to profitability.
It saw a 26 percent revenue jump in FY20, and also slashed losses by 33 percent, as per filings sourced by Tofler (business intelligence platform), the report said.
Read more about Pepperfry secures Rs 35 crore in fresh funding from InnoVen Capital on Business Standard. This is the third investment by InnoVen Capital in Pepperfry since 2017