New Zealand’s Petdirect lands undisclosed funding

With this fresh funding led by private equity (PE) firm Pencarrow, the Auckland-based company also plans to venture into the “physical realm of retail” by opening up brick-and-mortar stores in the country.

Petdirect’s CEO, Dave Anderson, expressed his enthusiasm at welcoming the PE firm as an equity partner. “It was literally 4 years ago to the day that Petdirect started trading,” he writes in a LinkedIn post. 

He adds that the company’s range of products, pricing and service propelled it toward “quickly” gaining market share, aided by the shift to online seen during the pandemic. 

“Regardless of this shift, we built loyalty with customers through our proposition, and the business has grown as we continued to improve our offering and service,” concludes Anderson.

Founded in 2020, Petdirect operates an online website offering a range of pet care products and services, such as expert advice. The pet retail company manages 2 warehouses in Christchurch and Auckland and employs 90 people.