New Delhi: Business-to-Business (B2B) Startup E-commerce has collected $ 250 million because it appears to increase operations before going public in 18-24 months.
The cease collected $ 200 million through a conversion note along with $ 50 million as a debt, showing an internal email by Aditya Pande, CFO at the Bengaluru-headquartered Startup.
Toi is the first to report efforts to raise capital in a new way, including debt financing from global institutional investors.
“This round is over 2x and also see the participation of our existing investors, including those who buy to the company through the secondary round (ESOP) at H1 2021,” Pande wrote in the email that had reviewed TII.
“Conversion records are instruments that are usually used by companies at the Pre-IPO stage, and these instruments are converted to equity at the IPO,” he said.
The funding figure reflects “expanding the capitalization strategy” after exploring the public list.
The central company is based on Singapore and IPOs can take place outside India.
“With this conversion offer, we, as a company, has begun to build a complete new muscle in our financial function – which will continue to strengthen when we progress,” Pande said.