Udaan pivots to inventory-led 'DMart for shopkeepers' amid insolvency and $160M raise
B2B marketplace Udaan is shifting to an inventory-led staples and Horeca model, betting on a DMart-style playbook. The move comes amid insolvency proceedings, a $170M note default, and a $160M fundraise reportedly backed by Blackrock's $45M private credit. Revenue peaked at Rs 9,000 crore in 2022 after raising $2.3B.
B2B wholesale marketplace Udaan is pivoting to an inventory-led 'DMart for shopkeepers' model focused on staples and Horeca, amid insolvency proceedings and a $160M fundraise reportedly backed by Blackrock's $45M private credit.
Why this matters
The pivot follows Udaan's $160M rescue package blending equity, debt and conversions ahead of an IPO, with BlackRock in talks for $45M in private credit to shore up the distressed B2B marketplace.
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