B2B e-commerce platform Udaan remains the leader in the wholesale procurement space among startups and has recently raised another $250 million to fuel its growth story.
It seems travel constraints and disruptions of traditional supply chains due to Covid 19 created a whole new world of opportunities for the Lightspeed-backed company during the fiscal and Udaan saw its revenues shoot up 6X to Rs 5,919 crore in FY21 from only Rs 978 crore in FY20.
The sale of traded goods on the online platform by Udaan was the leading revenue driver for the company, accounting for 94.41% of the annual revenues. These sales surged 8.8X to Rs 5,588.4 crore during FY21 from only Rs 632.7 crore in FY20.
The company also collects platform fees from other sellers in the platform and such collection grew by 7.5% to Rs 188 crore in FY21.
Udaan offers financing services to traders on its platform and collects interest and processing fees from them. Credit facilities are given to sellers and buyers…