Singapore's Everstone Acquires Delhi-based Wingify for ~ $200 Mn

Everstone Capital, a private equity firm headquartered in Singapore, has acquired a majority stake in Wingify, an Indian SaaS company, for approximately $200 million, reported TechCrunch.com

Wingify, founded by Paras Chopra and Sparsh Gupta in 2010, is known for its flagship product, Visual Website Optimizer (VWO), which helps businesses improve their online conversion rates through A/B testing and customer experience optimization.

This acquisition marks a significant milestone for Wingify, which has grown from a two-person startup into a profitable global software provider with over 6,000 clients across 90 countries.

Paras Chopra, owned 71% of the company before the acquisition. He will retain a minority stake and continue to be involved as a board member.

Sparsh Gupta, Sparsh Gupta, who joined Wingify as CEO in 2018, will continue as CEO, while Paras Chopra will retain a minority stake and remain on the board.

Wingify's annualized revenue runrate recently touched $50 million, and its operating scale surged by 30.8% in the fiscal year 2024. Wingify has a global market presence, with clients in the US, Canada, Europe, Australia, Germany, and the Netherlands.

This acquisition highlights Everstone's growing focus on India's technology sector, particularly profitable, bootstrapped companies with global reach. It also underscores the increasing appeal of Indian SaaS firms to global investors.

Enterprise Software Firm Wingify Invests Undisclosed Amount in Vegfru

Enterprise software makers Wingify has invested an undisclosed amount in Vegfru, an online B2B marketplace for fruit and vegetable trade. The startup connects buyers, specifically retailers and restaurant owners to sellers or suppliers, for instance the farmers. It has over 5,000 suppliers and buyers on the portal and focuses on taking care of the logistics and packaging services.

Vegfru sees over 60 orders a week and functions on a subscription-based model, charging a service fee ranging 4-5% per transaction.

Founded in 2009, Vegfru started working to strengthen fruit and vegetable trade by offering producers, wholesalers and retailers a long-term partnership aimed at improving profitability in the supply chain for fruit and vegetables. The company's goal is to create a virtual World where anyone can freely trade products and services related to fruit and vegetables irrespective of geographic, cultural, regulatory, logistical boundaries.

The firm is going to be only tech-driven fresh produce company offering linkages to wide array of services related to sector – right from farm to kitchen in fruit and vegetable sector.

Wingify is Indian software product venture with footprints across 100 plus countries and 4000 plus business customers including the likes of Microsoft, GE, Mitsubishi, Lenovo, Dominoes etc, it consists of a team of technologists and operating out of a office in North Delhi.

Enterprise Software Firm Wingify Invests Undisclosed Amount in Vegfru

Enterprise software makers Wingify has invested an undisclosed amount in Vegfru, an online B2B marketplace for fruit and vegetable trade. The startup connects buyers, specifically retailers and restaurant owners to sellers or suppliers, for instance the farmers. It has over 5,000 suppliers and buyers on the portal and focuses on taking care of the logistics and packaging services.

Vegfru sees over 60 orders a week and functions on a subscription-based model, charging a service fee ranging 4-5% per transaction.

Founded in 2009, Vegfru started working to strengthen fruit and vegetable trade by offering producers, wholesalers and retailers a long-term partnership aimed at improving profitability in the supply chain for fruit and vegetables. The company's goal is to create a virtual World where anyone can freely trade products and services related to fruit and vegetables irrespective of geographic, cultural, regulatory, logistical boundaries.

The firm is going to be only tech-driven fresh produce company offering linkages to wide array of services related to sector – right from farm to kitchen in fruit and vegetable sector.

Wingify is Indian software product venture with footprints across 100 plus countries and 4000 plus business customers including the likes of Microsoft, GE, Mitsubishi, Lenovo, Dominoes etc, it consists of a team of technologists and operating out of a office in North Delhi.