Chief Financial Officer of Udaan
“Despite the funding-related challenges facing the larger startup ecosystem, this fundraiser reflects investors’ confidence in our business model and their endorsement of the journey to unity economics, driven by major advances in the evolution of our business model and cost-efficiency, which we achieved last year. have started,” said Pande.
He added that these steps have not only helped us achieve a positive unit economy in the past quarter, but have also improved the efficiency of the system, with huge cost benefits, “which is essential to building a sustainable business and getting ready.” to be for the public market in 12-18 months”.
The Bengaluru-headquartered startup improved its unit economy by “1,000 basis points with equally strong improvements in both gross margins and operating expenses,” Pande said.
“The journey of the right business design and unit economy has translated into a reduction in brand of more than 60 percent. Continued focus on customer-centric thinking and initiatives to strengthen our value proposition for them has resulted in the monthly recurrence rates of buyers with more than 500 bps have risen in the last 2 quarters,” he added.
Earlier this year, Udaan raised $250 million, $200 million in convertible bonds and $50 million in debt.
In the 2021 calendar year, Udaan has raised $500 million, bringing the total raise to date to $1.4 billion.
To meet the growing demand, Udaan plans to expand its warehouse capacity to 50 million square meters nationwide in the next seven to eight years.
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