India headquarters for Printvenue's global expansion

Printvenue, a little known e-commerce company, might soon steer its global operations out of India.

Rocket Internet-backed Printvenue is eyeing expansion across Southeast Asia, West Asia and Latin America over a year. India will be the international headquarters. It is also looking to raise $20 million (Rs 120 crore) in the next three to four months.

"This is the first time a Rocket Internet-backed firm will be headquartered out of India for all global operations. Usually, most of the firms we have invested in with an international spread operate out of Berlin for decision making on a global front," Kiren Tanna, Rocket Internet's co-chief executive for the Asia-Pacific group told Business Standard.

Printvenue, which provides customised printing products, recently raised $4.5 million from Berlin-based Rocket Internet. An additional amount was also pumped into the Saurabh Kochhar-led Printvenue by Rocket Internet. The latter amount was not disclosed.

The Gurgaon-based company operates in India, Australia and Singapore. The firm has a presence in Brazil under the brand name of Zocprint.

"Rocket Internet coming on board has been a big positive. We are looking at expanding into newer geographies and most of our new funds will be utilised for that purpose," said Kochhar, managing director and co-founder of Printvenue.

Printvenue is looking to enter Malaysia in the next two to three months. Canada is another place the company is exploring.

At present, a little over 80 per cent of the company's business comes from operations in India. The international business pie might swell to as much as 50 per cent over four to five years. "We are growing over 20 per cent every month,'' said Kochhar.

In India, Printvenue's direct competition is with SIDBI Ventures-backed Printland, Sequoia Capital-backed Printo and Delhi-based Printbazaar, which also offer printing solutions for gifting and personal use. Printvenue enables ordering of customised office stationery, business cards, letterheads, cardholder and other personalised accessories.

According to Kochhar the market opportunity in India alone, on a modest scale, is $1-2 billion. "We want to offer niche solutions and there is a huge potential waiting to be unlocked.''

Rocket Internet also has sizable investments in Jabong and Foodpanda, among others, and has been on an acquiring spree in Asia.