SUMMARY
- Prosus plans to invest $30 Mn in Urban Company through a secondary purchase at a $2.6 Bn valuation.
- The investment comes ahead of Urban Company’s planned IPO next year.
- Urban Company previously secured $50 Mn from Dharana Capital in a secondary deal in July.
Prosus, the global investment firm, is reportedly planning to increase its stake in home services marketplace Urban Company through a secondary deal valued at $30 million. This transaction is set to take place at a flat valuation of $2.6 billion, as the startup gears up for its anticipated initial public offering (IPO) next year.
The proposed investment aligns with Prosus’ strategy of deepening its presence in high-growth tech startups within the Indian market. Urban Company, which has gained significant traction in the on-demand home services sector, is seen as a critical asset in Prosus’ expanding portfolio. The move to acquire additional shares reflects confidence in the company’s future prospects as it prepares for a public listing.
This development follows an earlier secondary transaction in July when Urban Company raised INR 400 Cr ($50 million) from venture capital firm Dharana Capital. The secondary deals indicate sustained interest from investors, highlighting Urban Company’s growing market presence and profitability.
The upcoming IPO is expected to further solidify Urban Company’s position as a leading player in the home services industry. With increased backing from Prosus, the company is well-positioned to expand its services and reach in India and potentially explore global markets in the future.
Prosus, already a key investor in Indian startups, has consistently sought to bolster its investment in sectors showing strong growth potential. The latest secondary deal with Urban Company emphasizes the rising investor confidence in tech-driven service platforms ahead of key public market events.
