Udaan lines up $160M structured financing as BlackRock eyes $45M commitment
B2B commerce platform Udaan is raising ~$160M through fresh equity, new debt and debt-to-equity conversion to shore up its balance sheet amid insolvency proceedings against its Singapore holding entity. BlackRock is expected to anchor with $45M.
B2B e-commerce platform Udaan is raising ~$160 million via fresh equity, new debt and debt-to-equity conversion, with BlackRock expected to commit $45 million, to strengthen its balance sheet amid insolvency proceedings against its Singapore holding entity.
Why this matters
Builds on Udaan's ~$160M structured round at a $1.3B valuation, down 59% from peak, as it eyes an IPO and improving margins while its Singapore parent faces insolvency.
Retail-company signals are accelerating, up 792800% QoQ.