The company has raised USD 200 million via a convertible note and an additional USD 50 million as debt. The funding round saw participation from already existing investors and two new ones, reaching a valuation of USD 3 billion, according to techcrunch.com.
Udaan aims to solve the inventory problems of businesses by connecting small retailers with wholesalers and traders. The startup serves more than 3 million retailers and SMEs, and it has signed up brands, including Coca-Cola, PepsiCo, Boat Lifestyle, Micromax, HP, LG, ITC, HUL, and P&G.
Other than the inventory problems, Udaan also facilitates merchants secure working capital. The company noticed that small businesses rely on money they secure from selling their existing inventory for buying their next batch. Because Udaan can see the engagement of different merchants on the platform, it is able to determine to whom it could safely grant working capital.
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