Udaan announces $160-million structured financing round
Business-to-business e-commerce platform Udaan on Tuesday announced a financing round of around $160 million, which includes fresh equity, new debt and debt-equity conversion.
The company, which will go public, said in its statement that existing shareholders will transfer fresh capital to the company with a new investor, and some investors will convert some of their unpaid bonds into equity capital.
It was also stated that the remaining balance of convertible bonds will be extended in line with the revised terms and conditions.
The company also said: The investment management company committed approximately $45 million through its private lending platform as part of the transaction.
financial crisis
The proposed fundraiser is Udaan’s offshore parent Trustroot Internet Pvt. It took place in the midst of ongoing bankruptcy proceedings regarding. Ltd. in Singapore. Economic Times On July 3, it reported that a group of global creditors had filed a lawsuit against Trustroot in the Singapore High Court after it defaulted on $170 million of compulsorily convertible notes maturing on June 30.
Creditors include Tor Investment Management, Samena Capital, Arena Investors, Catalyst Funds, Evolution and Nomura.
The proposed transaction is subject to customary closing conditions, execution of definitive agreements and regulatory approvals, as applicable.
Udaan most recently raised $114 million in a Series G funding round led by existing investors M&G Investments and Lightspeed Venture Partners. The round reportedly valued the company at approximately $1.3 billion, down nearly 59% from its peak valuation of $3.2 billion.
Mint In December 2025, Udaan initiated a process to sell its minority stake in the non-banking finance company (NBFC) as the B2B e-commerce platform sought to monetise assets while it embarked on a broader restructuring exercise, the company reported, citing three people familiar with the matter.
show of confidence
“Over the last few quarters, we have continuously improved our operating performance, delivering healthy growth while significantly strengthening profitability and cash efficiency,” Udaan co-founder and CEO Vaibhav Gupta said in a statement.
“The continued support of our existing investors, as well as the participation of new capital partners, reflects strong belief in our business fundamentals and long-term opportunities,” Gupta added.
For FY25, Udaan reported consolidated revenue of: ₹4,561.4 crore, downwards ₹5,706.6 crore in FY24. Consolidated loss narrowed by approximately 37% ₹1,055.4 crore ₹1,674.1 crore a year ago.
He also noted that Bengaluru, its largest operating city, has achieved Ebitda profitability, demonstrating the effectiveness of its disciplined execution.
