JSW One Platforms Bags INR 575 Cr To Expand Ops, Strengthen NBFC Arm

Core Insights - JSW One Platforms has successfully raised an additional INR 235 Cr, bringing the total funding in the current round to INR 575 Cr, following an earlier raise of INR 340 Cr at a unicorn valuation [1][2] Funding Details - The funding round included participation from notable investors such as State Bank of India (SBI), Principal Asset Management, One-Up, International Conveyors Ltd. (ICL), Scarlett Ventures, and JSW Steel [2] - The initial funding round was initiated in May 2023, with the company announcing a raise of INR 340 Cr at that time [2] Use of Funds - The company plans to utilize the fresh capital to invest in its proprietary technology platform, expand operations, and strengthen its non-banking financial company (NBFC) arm [3] - Specific plans include increasing credit access, enhancing underwriting capabilities, and designing customized financial products for small businesses [4] - Additionally, the company aims to expand its distribution and logistics network across major industrial clusters to improve last-mile delivery and provide embedded financial services [4] Company Overview - Founded in 2020, JSW One Platforms operates as a B2B tech-enabled marketplace catering to construction and manufacturing MSMEs, offering services from procurement and credit to fulfillment and private brands [5] - The company also runs JSW One Homes, which connects clients with professionals and contractors for the entire process of buying a plot and building a home [5] Financial Performance - In FY24, the company reported a revenue of INR 70.7 Cr, with a net loss of INR 199.8 Cr [7] - The company has experienced significant growth, claiming a 2.4X year-over-year increase in gross merchandise value (GMV) to INR 12,567 Cr in FY25, with projections to surpass INR 8,000 Cr in GMV in H1 FY26 [6]