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TradeIndia, an online price and products discovery platform solely focused on small businesses, is looking to raise USD 10-15 million over the next two quarters, a senior company official said.
The company was started as an offline B2B platform for SME buyers and sellers in 1996 by Bikky Khosla, who owns 95 per cent of the stock. The remaining 5 per cent is with directors and employees.
The New Delhi-based firm closed FY20 with a revenue of Rs 127 crore, and has been profitable for many years now as it ensures 5 per cent margin on any product listing, which is its core revenue source, the company's Chief Operating Officer Sandip Chhetri said.
"We are looking at fund-raising to the tune of USD 10-15 million. We want to close a deal... within the next two quarters," Chhetri told PTI over phone from New Delhi.
Though he refused to share how much stake promoter Khosla is planning to divest, he said the company is looking at a valuation of 6-7 times the FY20 revenue.
Chhetri said being fully digital, the lockdown has helped the firm scale up revenues, with cumulative month-on-month revenue growth clipping at 25 per cent during the lockdown months over the same period last year.
With over 5.5 million registered users, including 20 per cent from abroad, and over 3.7 million sellers, TradeIndia is the second largest B2B platform for buyers and sellers from the small business space, after Indiamart, promoted by Dinesh Agarwal.
The platform also features more than 90,000 product categories.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Thu, September 24 2020. 22:18 IST