Mumbai-based online classifieds platform Info Edge (India) Ltd. has invested about $871K (INR 5.66 Cr) in Nopaperforms Solutions Pvt. Ltd. and has made a follow-on investment of $770K (INR 5 Cr) in HappilyUnmarried Pvt. Ltd., said the company in its BSE filings.
Info Edge now owns 27.92% and 47.21% stake in Nopaperforms HappilyUnmarried respectively.
Nopaperforms: A SaaS Platform Providing End To End Software Solutions To Institutions
Launched in February 2017, Nopaperforms is a New Delhi-based SaaS platform providing and offers a suite of software products such as lead management system, application management system, campaign management system, etc.
The site aims to provide an end to end enrolment solution to institutions and individuals for managing their leads and workflows. As mentioned on the company’s website, it has a network of 150+ institutions currently.
“As a part of company’s strategic investments, the acquisition would help the company to diversify its presence into a new line of business within the Internet services industry,” said, Info Edge in a filing.
HappilyUnmarried: Working to Disrupt The $400 Mn Indian Gifting Industry
HappilyUnmarried, on the other hand, started operations in 2007 and was launched by alumni of Mudra Institute of Communications (MICA), Ahmedabad, viz. Rahul Anand and Rajat Tuli..It is engaged in the business of sale of fun quirky India-centric designs across gifting categories such as apparel, glassware, travel accessories, office, and stationery. This also includes a grooming range for men, under the name ‘Ustraa’