InnoVen Capital, Asian venture debt and specialty lending firm, recently invested Rs 35 crore in Mumbai based online furniture marketplace Pepperfry.com. This is the third investment by InnoVen Capital in Pepperfry, which it had first funded in 2017.
Pepperfry is India’s largest furniture and home products focused marketplace. It has seen significant growth in the past months with improved economics for the business.
Sameer Mansukhani, Senior Director, InnoVen Capital India said, “We have seen Pepperfry grow and emerge as a category leader, while adding new capabilities and product offerings on its platform. They have built a strong brand and this investment reaffirms our commitment to back high performing portfolio companies across their life cycle.”
Neelesh Talathi, CFO, Pepperfry added, “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 flows. These funds will be used to increase our footprint across the country and capitalize us even beyond achieving profitability.”