- Udaan, a B2B ecommerce unicorn, raised $120 million in convertible notes and loans from shareholders and bondholders.
- CFO Aditya Pande stated in an internal email seen by YourStory that udaan had raised over $350 million in convertible notes and debt in the previous four quarters.
- “This capital raising represents the trust of investors in our business model and their validation of the path to unit economics, driven by excellent success in development of our business model and cost efficiency, that we launched last year,” the email added.
- Udaan hopes to be public market-ready in 12-18 months.
