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Updated on: Wednesday, January 05, 2022, 05:24 PM IST

Udaan raises $250 mn via convertible note, debt; plans IPO

A convertible note is a debt instrument often used by angel or seed investors looking to fund an early-stage startup that has not been valued explicitly.
Udaan has a network of over 3 million registered users./ Representative image | Photo: Pixabay

Udaan has a network of over 3 million registered users./ Representative image | Photo: Pixabay

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B2B Platform for businesses Udaan has raised $250 million via convertible note and debt and is also looking for an initial public offering over the next 18 months.

A convertible note is a debt instrument often used by angel or seed investors looking to fund an early-stage startup that has not been valued explicitly.

The company achieved a valuation of $3.1 billion, during its last round of funding. Udaan has a network of over 3 million registered users and 25,0000-30,000 sellers across 900+ cities in the country covering more than 12,000 pin codes.

Udaan enables small manufacturers, farmers, and brands to market and sell their products across the country at low cost with 100 per cent payment security and complete transparency.

Udaan is headquartered in Bengaluru with offices in all leading metros and major cities across India.

(With inputs from agencies)

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Published on: Wednesday, January 05, 2022, 05:24 PM IST
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