JSW One Platforms, a B2B ecommerce company based in India, has closed a 575 crore rupee (US$64.76 million) funding round after securing 235 crore rupee (US$26.46 million) from SBI at a post-money valuation of 8,575 crore rupee (US$1.03 billion).

Earlier in the round, the company raised 340 crore rupee (US$38.29 billion) at a US$1 billion valuation from Principal Asset Management, OneUp, JSW Steel, and others.

JSW One Platforms said the new funding will go toward technology development, expanding operations, and growing its NBFC arm.

It plans to use the new capital to expand credit access, improve underwriting, launch new financial products for small businesses, and strengthen its logistics network.

In July 2023, the company raised 205 crore rupee from Mitsui & Co.

The company reported a gross merchandise value of 12,567 crore rupee (US$1.51 billion) and cited 2.4x growth for FY25.

JSW One Platforms competes with firms such as OfBusiness, Jumbotail, and Indiamart.

🔗 Source: YourStory