Microsoft Corporation has joined Udaan’s debt financing round of over $200 million, according to a note sent to employees by Aditya Pande, CFO of the B2B e-commerce platform.
With this, Udaan has now raised a total of $225 million through convertible notes which was announced in January this year.
This instrument will allow investors to flip their convertible notes into equity at a later stage, potentially before the IPO.
Udaan was one of the fastest startups to achieve unicorn status back in September 2018. The company has operations across categories including lifestyle, electronics, home & kitchen, staples, fruits and vegetables, FMCG, pharma, toys and general merchandise.
It claims to have a network of over 3 million users in 900 cities by connecting them to over 25,000 sellers across the country.