New Delhi, NFAPost: Lighthouse India Fund III, Limited has invested Rs 200crores ($27 million) in Ferns N Petals Private Limited (“FnP”), India’s leading gifting platform.
Starting its journey from a single flower store in Delhi, FnP has grown to become India’s largest, most well-known gifting platform, delighting more than two million customers annually.
The Company offers over 40,000 products across various categories, such as cakes, flowers, plants, chocolates, and personalized merchandise. The Company operates through a network of more than 400 franchised FnP stores across India, serving 99% of the Indian pin codes and delivers the majority of its orders within 24 hours.
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 a 40%+ growth rate and expects a turnover of nearly Rs 600 crore in the current financial year.
Ferns N Petals Founder & Managing Director Vikaas Gutgutia said gifting is all about ‘Delight’ and at FnP, N Petals is committed to offering the best-curated experience to customers and their loved ones.
“We are very excited to partner with Lighthouse and look forward to learning from their deep consumer insights, developed through a focused investment approach,” said Ferns N Petals Founder & Managing Director Vikaas Gutgutia.
On the partnership, Ferns N Petals India, GCC & APAC Regions Retail & Online CEO Pawan Gadia said online gifting has its nuances which significantly differentiates it from other online D2C categories.
“The delivery experience plays as critical a role as the gift itself, if not more. With this fundraising, we plan to invest in improving our systems and technology to ensure a superlative customer experience for all gifting occasions,” said Ferns N Petals India, GCC & APAC Regions Retail & Online CEO Pawan Gadia.
Lighthouse Advisors Founding Partner Sachin Bhartiya said gifting is a large but highly fragmented market in India.
“Online gifting has hardly scratched the surface and 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 Lighthouse Advisors Founding Partner Sachin Bhartiya.
Lighthouse is a leading mid-market private equity firm focused on growth investments in India. 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.
Lighthouse’s marquee investments include leading Indian 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.
