Exclusive: Udaan Bags INR 50 Cr In Debt Round From Blacksoil
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India, Sept. 25 -- B2B ecommerce marketplace Udaan is raising INR 50 Cr (approx $6.7 Mn) in debt through multiple tranches from venture debt firm Blacksoil. The development comes days after Inc42 exclusively reported that Udaan has received shareholders' nod to raise up to INR 2000 Cr in debt.
As per the regulatory filings, Udaan is allotting a total of 1000 non-convertible debentures (NCDs) to Blacksoil.
The Bengaluru-based startup is allotting 100 Series A NCDs for INR 5 Cr to Blacksoil Capital Private Limited. The startup is allotting 600 Series B NCDs for INR 30 Cr to Blacksoil Capital and 300 Series B NCDs for INR 15 Cr to Blacksoil Asset Management.
Udaan is likely to close multiple debt rounds in the coming months.
Founded in 2...
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