Exclusive: Online Furniture Seller pepperfry Bags $40 Mn In Debt Funding From 47 Investors
In FY20, pepperfry posted operating revenue of INR 246.03 Cr, a 27% increase from INR 193.26 Cr in FY19. The startup managed to narrow its loss to INR 117.4 Cr in FY20, a 33.3% drop from INR 183.49 Cr in FY19. As per a Redseer report, the online furniture was valued at $700 Mn in CY2020, a mere 3.5% of the overall $20 Bn market size. Another report by Research and Markets estimates that Indiaâ€™s overall furniture market is anticipated to reach $37.72 Bn by the end of 2026. Based on the projection and given the current market share of 3.5%, the online household furniture market is likely to hit at least $1.32 Bn by that time.