Udaan raises ~$160M structured round as it eyes IPO amid parent insolvency
B2B e-commerce platform Udaan closed a ~$160M mix of fresh equity, debt and debt-to-equity conversion even as insolvency proceedings target its Singapore parent Trustroot. FY25 losses narrowed to ₹1,055.4 crore on revenue of ₹4,561.4 crore, with Bengaluru operations turning Ebitda-positive.
B2B e-commerce platform Udaan announced a ~$160M structured financing round (fresh equity, debt, debt-to-equity conversion) amid insolvency proceedings against its Singapore parent. IPO-bound firm reported narrowing FY25 losses and Bengaluru Ebitda profitability.
Why this matters
The round extends Udaan's pre-IPO push, echoing prior signals on balance-sheet repair, a simplified capital structure and a Singapore insolvency settlement at a $1.6-1.7B valuation.
Retail-company signals accelerating at +785000% QoQ.