Udaan Overview
- Udaan is a B2B trading marketplace that has an aim of empowering retailers, wholesalers, traders, and manufacturers through the use of technology. Its network connects over 25,000 sellers to over 3 million B2B users in 900 cities.
- It was founded in 2016 by former Flipkart employees – Amod Malviya, Vaibhav Gupta, and Sujeet Kumar.
- Based on their business model, Udaan is an asset-light player and aims to help Indian SMEs with credit issues, B2B logistics, revenue, and marketing.
- Udaan provides merchants on their platform with accounting, order, and payment processing solutions and provides retailers with affordable working capital (funds). In other words, Udaan is not only a forum for retailers and wholesalers, but it also underwrites small business loans.
Funding History
- Earlier this month, B2B e-commerce platform Udaan had announced raising $280.5 million in its extended Series D round from new and existing investors.
- Udaan has now raised $1.15 billion in total, including this new capital infusion. Udaan has surpassed $3 billion valuation as a result of this deal.
- Existing Udaan investors Lightspeed Venture Partners, DST Global, GGV Capital, Altimeter Capital, and Tencent, as well as two new investors Octahedron Capital and Moonstone Capital, participated in the latest funding round.
