Info Edge Investment Spree Continues: Invests In Nopaperforms And Happily Unmarried

Info Edge Investment Spree Continues: Invests In Nopaperforms And Happily Unmarried

Info Edge Now Owns 27.92% and 47.21% Stake In Nopaperforms HappilyUnmarried Respectively

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’

Earlier in July 2016, HappilyUnmarried also raised $740K (INR 5 Cr) in an all-stock deal from Info Edge.

As mentioned in the filing, “Out of $770K (INR 5 Cr), about $632.9K (INR 4.11 Cr) is proposed to be used by HappilyUnmarried for repayment of existing debt advanced by a wholly owned subsidiary of the company to HappilyUnmarried, from time to time.”

Info Edge has been making strategic investments quite actively in the ecosystem. Its major investments include companies such as  PolicyBazaar, online photography startup Canvera, online beauty services provider BigStylist and online gifting site HappilyUnmarried.

Also, Info Edge recently posted a 7% increase in operational revenues in the second quarter of FY 2017-18 compared with the same quarter a year ago. The gain in revenue came on the back of rise in net sales of the firm’s recruitment solutions division, which includes Naukri.com. Info Edge also operates  real estate site 99acres, online matrimonial platform Jeevansaathi, and has a major stake in Zomato.

So far, Info edge has concentrated its business divisions in areas such as online recruitment, matrimony, education and real estate. With Nopaperforms, Info Edge will now be betting in the SaaS segment. Also, a follow-on round in HappilyUnmarried further indicates the company’s inclination towards the online gifting industry, currently pegged at $400 Mn of the total market size of $30 Bn.

Author

Meha Agarwal

Inc42 Staff
Meha has engineering and MBA degrees, but she has always been a writer at heart. It was the perfect combination of utilising her research and analytical skills and her enthusiasm for writing that sparked her interest in writing about the Indian startup ecosystem – the latest tech and gadgets and the startups that create them. She is always on the lookout for industry-specific stories in niche areas of interest such as ecommerce, fintech, greentech and more.
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