Urban Company raises $190 million, valued at $2 billion
The home services provider s latest funding round saw participation from Tiger, Steadview Capital, Vy Capital, among others.
BusinessToday.In | April 27, 2021 | Updated 19:18 IST
Founded in November 2014, the company has presence across 30 cities in India. (Image: Twitter)
Urban Company has become the latest Indian start-up to enter the unicorn club by raising $190 million from investors led by Prosus at a valuation of $2 billion.
The company was valued at $933 million during its last funding round in 2019, led by Tiger Global.
The home services provider s latest funding round saw participation from Tiger, Steadview Capital, Vy Capital, among others, The Economic Times reported citing regulatory filings sourced from Tofler.
[Funding alert] Urban Company enters unicorn club with $2B valuation, following $188M fund raise
Urban Company s latest funding round had Prosus as the lead investor. The home services marketplace is now valued at $2 billion.
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$188 million in its latest funding round led by
Prosus, show the regulatory filings by the startup.
The latest fundraise by Urban Company also saw the participation of two new investors –
DF International and
$2 billion, according to reports.
According to filings made with the Registrar of Companies (RoC), Urban Company issued
2,613 equity shares and
50,490 compulsory convertible preference shares (CCPS). This latest round of capital infusion takes Urban Company into the coveted unicorn club as it was last valued at around $933 million during its funding round in 2019.
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Tiger, Steadview Capital, Vy Capital and others also participated in the round. The company has so far raised $370 million of equity capital from investors across various rounds. Its other early investors include Bessemer India, Elevation Capital, and Accel India.
According to the filings, Prosus has invested $61.93 million, DF International $37 million, and Wellington Management $33.2 million, giving them a 3.18%, 1.90% and 1.7% stake, respectively.
The documents show Urban Company allotted 2,613 equity shares and 50,490 Series F preference shares at an issue price of Rs 265,553.1 a piece to raise around $190 million (Rs 1,410.2 crore). News website Entrackr was the
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