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by IANS |
?New Delhi, March 12 (IANS) Lighthouse India Fund III, Limited on Saturday announced to invest Rs 200 crore ($27 million) in online gifting platform Ferns N Petals (FnP).
Lighthouse is a leading mid-market private equity firm focused on growth investments in the country.
Its investments in India include leading brands like Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Cera Sanitaryware, Dhanuka Agritech, Kama Ayurveda, Poly Medicure, Shaily Engineering, Tynor Orthotics, Unibic Foods, and Wow! Momo.
Online gifting has huge headroom to grow with digital tailwinds supporting such growth.
"FnP has all the required ingredients, including leading brand recall, its extensive supply chain network, a robust tech stack, and a seasoned management team, to capture a large share of this growth," shared Sachin Bhartiya, Founding Partner at Lighthouse Advisors.
FnP offers over 40,000 products across various categories.
Beyond India, the company has on-ground operations in the UAE, Singapore, and Qatar and plans to further expand into Saudi Arabia, Malaysia, Indonesia, the Philippines, and the UK soon.
Despite Covid-related disruptions, the company has maintained an over 40 per cent growth rate and expects a turnover of nearly Rs 600 crore in the current financial year.
"We are excited to partner with Lighthouse and look forward to learning from their deep consumer insights, developed through a focused investment approach", shared Vikaas Gutgutia, Founder and Managing Director at Ferns N Petals.
Lighthouse has over half a billion dollars of assets under management and has invested in over 25 companies across consumer brands, digital transformation, healthcare, and specialty manufacturing.
