KKR-backed Livspace earmarks $100m for acquisitions

Livspace, a Singapore-based proptech firm, is earmarking US$100 million to acquire other companies that can help its expansion strategy, Bloomberg reported, citing a statement from CEO Anuj Srivastava.

According to the executive, Livspace is currently in “active discussions” with eight to nine companies and aims to acquire three to four firms. It aims to expand in Singapore, India, Malaysia, and the Middle East through these deals.

Srivastava said that the strategy will put the startup on a clear path to “profitability for our core business” over the next 12 to 18 months.

Founded in 2014, Livspace offers interior design and renovation services through its platform, helping predict pricing, timelines, and quality of a housing project.

In February this year, the startup raised US$180 million in a series F funding round led by KKR, pushing the company into unicorn territory. At the time, Srivastava said that Livspace will set aside around US$40 million to US$50 million of the funds for its expansion into Southeast Asia.

See also: The Amazon of home decor eyes profits for SG unit after breaking even in India