Debt

Debt financing

B2B e-commerce co Udaan raises funding from Temasek-backed EvolutionX Debt Capital

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Bengaluru-based B2B e-commerce giant Udaan has raised debt funding from Temasek-backed EvolutionX Debt Capital, taking its overall debt financing in the last four quarters to upwards of USD 350 million. The company had raised USD 120 million in convertible notes and debentures in October this year from existing shareholders and bondholders. The company is also preparing to go public in the next 12-18 months. Founded in 2016, Udaan's B2B ecommerce platform has over three million retailers listed across categories such as fruits and vegetables, electronics, home and kitchen supplies, and lifestyle. It has raised over USD 1.5 Billion (debt and equity) so far from investors including Lightspeed Venture Partners, Tencent Holdings, and DST Global.