B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital

B2B marketplace Udaan raises up to $40m from EvolutionX Debt Capital

(From left to right) Amod Malviya, Vaibhav Gupta, Sujeet Kumar, co-founders, Udaan

Business-to-business (B2B) marketplace Udaan, backed by investors such as Lightspeed India Partners and GGV Capital, has raised around $35-40 million in debt from growth-stage debt financing platform EvolutionX Debt Capital, a source familiar with the matter told DealStreetAsia.