Udaan raises Rs 300 crore in debt financing

B2B e-commerce startup Udaan on Monday said it has raised nearly Rs 300 crore in a debt financing round from investors such as Lighthouse Canton, Stride Ventures, InnoVen Capital and Trifecta Capital. This round follows Udaan’s $340-million Series E funding round in December last year, which was led by UK-based M&G.

Besides strengthening its balance sheet, the company plans to use the funds to scale its geographical footprint through its ‘micro-market strategy’, which creates a small, geographically-confined area, typically including a single or a group of PIN codes.