Omnichannel furniture retailer Pepperfry has raised Rs 35 crore in debt capital from venture debt firm InnoVen Capital. The company has been experiencing increased growth in the past year with its revenue growing from Rs 193.25 crore in FY19 to Rs 246.03 crore, jumping 27.31 percent in FY20.

In a statement, Neelesh Talathi, CFO, 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 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 capitalise us even beyond achieving profitability.”

Pepperfry was founded in 2012 by Ambareesh Murty and Ashish Shah. The company has since garnered over 60 lakh registered users, has established over 40 experience centers across various Indian cities and has reached more than 500 Indian cities. Pepperfry also has over 22 distribution centres present in most capital cities.

The current debt funding round is InnoVen Capital’s third round of investment in Pepperfry, the first one going back to 2017.

Speaking about the investment, 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."