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Updated · Bloomberg · Jul 14Udaan Secures $160 Million Ahead of IPO, Bolstering Balance Sheet
1 articles · Updated · Bloomberg · Jul 14Summary
- Udaan lined up $160 million in financing as the Indian B2B e-commerce firm moves toward a capital markets listing.
- The package combines fresh equity, new debt and the conversion of part of its outstanding convertible bonds into equity.
- The company said the funding is aimed at strengthening its balance sheet before an IPO.
Insights
After a 70% valuation collapse and near bankruptcy, can $160 million truly revive Udaan’s ambitious IPO dream? Is Udaan’s crisis a fatal flaw in the business model of lending to the same customers you sell to?