B2B Start-Up Udaan Raises $250 Million Via Convertible Note And Debt
ABP NewsNew Delhi: India’s largest business-to-business e-commerce platform Udaan has raised $250 million through convertible note and debt, according to a report published in Business Standard. The Bengaluru-based firm has raised $200 million via convertible note and an additional $50 million as debt, said Udaan’s Chief Financial Officer Aditya Pande. “We are excited and glad to share that we have five new marquee investors coming onboard the Udaan juggernaut, as part of our recently concluded convertible note financing. Pande said, “With this convertible offering, we, as a company, have started building a complete new muscle in our finance function which we will continue to strengthen as we go forward.” Udaan was co-founded by three former Flipkart executives Sujeet Kumar, Vaibhav Gupta, and Amod Malviya.
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