Unicommerce Aims for Late-2024 IPO

Unicommerce Sets Sights on IPO

Unicommerce, the renowned tech firm that offers comprehensive management solutions to ecommerce entities, is eyeing a late-2024 initial public offering (IPO). As a subsidiary of Snapdeal, the company has enlisted investment firm CLSA to oversee the book-building process. Kunal Bahl confirmed this development to X on November 7.

Recent Growth and IPO Plans

The SaaS platform has played a pivotal role in the operations of recently listed companies such as Mamaearth and Cello World. While Unicommerce has not divulged specific details about its IPO plans, it has stated that it is exploring various funding options.

Impressive Financial Performance

Over the past fiscal year, Unicommerce has handled more than half a billion transactions, resulting in an operating revenue of $900 million. This marked a remarkable increase of over 50% from the previous year. The company is currently testing its Unireco platform, designed to streamline payment reconciliations for brands dealing with multiple marketplaces.

Consistent Profitability and Customer Base

Unicommerce has sustained consistent profitability for over five years and boasts a substantial customer base, including over 700 enterprise relationships and thousands of SMB engagements. Notable clients include Myntra and Lenskart.

Robust Growth Prospects

The company’s growth prospects seem robust, with an increase in business inquiries from tier-2 and tier-3 cities in India. Additionally, Unicommerce is strategically expanding into West Asian markets. Leveraging artificial intelligence, the platform provides deep insights into customer behavior patterns, aiding brands in refining inventory management and optimizing operational efficiency.

Article Summary

This article delves into Unicommerce’s plans for a late-2024 IPO, highlighting its recent growth, financial performance, customer base, and future prospects. With a focus on streamlining ecommerce operations, Unicommerce’s journey towards going public is one to watch.