CosmicTaco

Udaan's Growth Stalls, Reduces Losses by 19% in FY24

CosmicTaco · 2024-11-05T16:06:45.888912+05:30

- B2B e-commerce platform Udaan's growth has stalled, with flat revenue in FY24 and a valuation drop of over 59%. - Despite steady revenues, Udaan managed to reduce its losses by more than 19% in the last fiscal year. - The company generates revenue through the sale of traded goods, platform fees, logistics services, credit services, and advertising. - Udaan's cost of materials rose 4.2% despite flat revenues, leading to a focus on reducing expenses in other areas. - The company secured Rs 300 crore in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital last week. Source: [Entrackr](https://entrackr.com/fintrackr/udaans-growth-stalls-mid-flight-losses-down-19-in-fy24-7452166)

B2B e-commerce platform Udaan's growth has stalled, with flat revenue in FY24 and a valuation drop of over 59%.
Despite steady revenues, Udaan managed to reduce its losses by more than 19% in the last fiscal year.
The company generates revenue through the sale of traded goods, platform fees, logistics services, credit services, and advertising.
Udaan's cost of materials rose 4.2% despite flat revenues, leading to a focus on reducing expenses in other areas.
The company secured Rs 300 crore in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital last week.

Source: Entrackr