Livspace receives Rs 30 Cr as debt from Trifecta

Online home decor startup Livspace has received Rs 30 crore in a debt funding round from its existing backer Trifecta Venture Debt. The latest infusion comes a month after the company closed its Series D equity round at $90 million led by Switzerland based investment firm Kharis Capital and Venturi Partners in September. 

Livspace has made an allotment of 300 non-convertible debentures or NCDs at an issue price of Rs 10,00,000  per share to receive the consideration, regulatory filings show. 

Backed by the likes of TPG Growth, Goldman Sachs, Bessemer Venture Partners, Jungle Ventures and Helion Venture Partners, the Bengaluru-based company has raised over $200 million across equity and debt rounds.

A brainchild of Anuj Srivastava and Ramakant Sharma, the six-year-old Livspace is operational in India’s 9 metropolitan cities and Singapore. According to the company, it is also evaluating countries such as Australia, Malaysia and Indonesia in the APAC region and the Middle East as its next markets. 

During its last funding tranche, Livspace had claimed to have hit a gross revenue run rate of over $200 million in February 2020 and had projected that it will grow into a $500 million business in the next 24-30 months and that its India operations are also expected to be profitable in 2021.

Livspace counts HomeLane, Flipspaces, UrbanLadder and Pepperfry among its peers. While HomeLane closed its $8 million bridge round in August this year, Pepperfry raised $40 million in February. Meanwhile, Flipspaces and UrbanLadder are unable to scale up and have not raised capital in the past one year.