Global investment firm Prosus is set to increase its stake in Urban Company, an Indian home services marketplace, through a $30 million secondary deal. This transaction values Urban Company at $2.6 billion, coming as the startup gears up for an initial public offering (IPO) slated for next year. The deal underscores Prosus’ commitment to deepening its foothold in high-growth Indian tech startups, particularly those with significant traction in their respective sectors.
Urban Company has emerged as a leading player in the on-demand home services market, positioning itself as a critical asset within Prosus’ expanding portfolio. The decision to acquire more shares reflects Prosus’ confidence in the startup’s future potential and profitability as it inches closer to its public listing.
This follows an earlier secondary transaction in July, when Urban Company raised INR 400 crore ($50 million) from venture capital firm Dharana Capital. The latest deal highlights continued investor interest and underscores Urban Company’s market presence and business potential.
The upcoming IPO is expected to further solidify Urban Company’s leadership position in the industry, with increased backing from Prosus providing the company with ample resources to expand its services across India and potentially explore international markets.
Prosus’ decision to bolster its stake aligns with its strategy to invest in tech-driven platforms with high growth potential, especially as Urban Company prepares for key public market events.
Key Highlights:
- $30 million secondary deal will increase Prosus’ stake in Urban Company, valuing the startup at $2.6 billion.
- Urban Company’s IPO is set for next year, with the additional funding aiding in domestic and global expansion.
- Previous funding includes INR 400 crore ($50 million) from Dharana Capital, signaling strong investor confidence ahead of the IPO.
