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B2B e-commerce platform JSW One bags Rs.575-Cr from SBI, Principal AM, JSW Steel, others

Economic Times   JSW One Platforms  

Mumbai-headquartered JSW One Platforms , the business-to-business (B2B) e-commerce arm of the steel-to-cement conglomerate JSW Group, has closed an INR 575 crore funding round with participation from State Bank of India (SBI), Principal Asset Management, group company JSW Steel, OneUp, International Conveyors, and Scarlett Ventures.The round, which began in May, valued the company at around INR 8,575 crore. The company had announced part of this round in May after raising INR 340 crore.The fresh capital will be used to scale the company’s technology platform, expand its distribution and logistics network, and strengthen its non-banking financial company arm, which provides financing solutions to small and medium enterprises. The company plans to widen credit access for MSMEs (micro, small and medium enterprises), enhance underwriting capabilities, and design customised financial products for small businesses.