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Pepperfry draws Rs 35 crore in debt

Online furniture retailer Pepperfry has raised Rs 35 crore in debt from InnoVen Capital.

“The funds will be used for expansion of business across the country,” the statement said.

Speaking on the investment, Sameer Mansukhani, Senior Director at 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 lifecycle.”

Commenting on the fundraise, Neelesh Talathi, CFO of Pepperfry said, “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-19 and we make continue to make good progress towards achieving profitability and managing cashflows.”

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