1 / 2

Pepperfry Receives $10 Million in Debt

Hybrid furniture market Pepperfry has acquired the second tranche of 10 mn dollars from investors in form of obligatory convertible debt. This is the second round of debt that they have acquired till now.

Entrackr
Download Presentation

Pepperfry Receives $10 Million in Debt

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. PepperfryReceives$10Millionin Debt HybridfurnituremarketPepperfryhasacquiredthesecondtrancheof10mndollarsfrominvestorsinformofobligatoryconvertibledebt.Thisisthesecondroundofdebtthattheyhaveacquiredtillnow. InFebruary,PepperfryreceivedRs35fromthedebtfirmInnoVenCapital. Accordingtoitsregulations,PepperfryhasapprovedtheissueofCCD74348(SeriesA-class)withafacevalueof10,000toraiseaboutthe74croremark,whichisaround$10million. NorwestVenturePartners,BroadStreetInvestments,andErsteWVGuttersloharethemostprominentplayersinthistranche.Theyareworth23.28croreand15croresand18croresper.PantheraGrowthFund,GeneralElectricPensionTrustaswellasMadhumalaVentureshavealsojoinedthisround. Alsoread:Setu Records Rs 3 CrRevenueinFy21 Even asLossesClimbto Rs 19 Cr It'simportanttoknowitisimportanttonotethatMadhumalacanbeapartofPidiliteIndustrieslimited,whichhasinvestedinPepperfryinthemonthofMaylastyear.Pepperfryisvaluedabout$462millionintheround,basedonFintrackr'sestimates. Thecompany,whichhasbeeninexistenceforadecade,wascreatedbyAmbareeshMurtyandAshishShahisbasedonamarketplacemodelwithbothonlineandofflineformats.Pepperfryisaplatformthatoffersmorethan11,000itemsandconnectsbrandslikeSpacewood,GodrejandSpringfittobuyers.

  2. AttheendofJune,Pepperfryboastedhavingmorethan70studiosofflineacross40cities.AccordingtoaMintarticle,PepperfryplanstoapplyforanInitialPublicOffering(IPO)duringthe1stquarterof2022.Itisexpectedtofundapublicpre-publicofferingthatwillrangefrom$50-AttheendofJune,Pepperfryboastedhavingmorethan70studiosofflineacross40cities.AccordingtoaMintarticle,PepperfryplanstoapplyforanInitialPublicOffering(IPO)duringthe1stquarterof2022.Itisexpectedtofundapublicpre-publicofferingthatwillrangefrom$50- $100millionattheendoftheyear. Alsoread:INDmoneyisExpected to Raise $100Mn in a RoundLedbyTiger Global Althoughthecompanyhasn'treleaseditsannualfinancialreportforFY21,itreportedanincreaseof26%inrevenuesto260.61croresforFY20.Thecompanyhasalsoreduceditslossesby33%. SubscribetoEntrackrtoknowallthelatesthappeningsandLatestStartup Newsinthebusinessworld.

More Related