trending Market Intelligence /marketintelligence/en/news-insights/trending/D2FMqbktd6sIcuLGQr0IUg2 content esgSubNav
In This List

B2B marketplace Udaan pulls in US$585M in series D round

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Blog

Europe: 5 key OTT trends to watch in 202

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud


B2B marketplace Udaan pulls in US$585M in series D round

India-based business-to-business online marketplace Udaan collected US$585 million in a series D financing round, TechCrunch reported.

Investors included Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures. Existing backers Lightspeed Venture Partners and DST Global also participated in the round, which is the biggest for any B2B e-commerce platform in India, the report said.

The latest funding round valued Udaan at between US$2.3 billion and US$2.7 billion, the report added, citing a person with knowledge of the matter.

Udaan will use the capital to expand its supply chain network across India, while also looking to scale its credit line business, UdaanCapital.

TechCrunch could not obtain a comment from Udaan co-founders.

Udaan operates a B2B marketplace that connects small retailers with wholesalers and traders. It supports a range of categories, including lifestyle, electronics and toys.

The credit line business offers working capital to buyers and sellers on its platform. Credit is financed by Udaan and other non-banking partners.