Gifting platform, Ferns N Petals has raised INR 200 Cr in funding from private equity (PE) firm, Lighthouse.
The company will use the funds to boost its ecommerce play and invest in technology for a better future for the company.It also plans to expand his presence into Saudi Arabia, Malaysia, Indonesia, the Philippines, the UK and Russia in coming years.
“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, Vikaas Gutgutia, founder & Managing Director at FNP.
New Delhi based startup Ferns N Petals was established in 1994 by Vikaas Gutgutia, Ferns N Petals is a flower and gifts retailer company.
Gutgutia started this company from just one flower shop in Delhi during 1994, Now the startup is the largest florist chain with 320 stores across in India and delivers to more than 150+ countries like UAE, Singapore and Qatar Doha.
“Online gifting has hardly scratched the surface and has huge headroom to grow, with digital tailwinds supporting such growth.” Said, Sachin Bhartiya, Lighthouse Founding Partner.
The company plans to open 70 new stores in this financial year itself and adding more than 1,000 outlets in the next three years.
Fiscal N Petals(FNP) claims to have generated net sales of around INR 500 crores in fiscal year 2021 despite the COVID 19 pandemic and supply chain disruptions.