Urban Company raises $190 mn at $2-bn valuation, joins unicorn club

Truman Slate

City Company, India and UAE’s premier tech-enabled house solutions marketplace, has elevated $one hundred ninety million from traders led by Prosus (previously Naspers). The funding has additional than doubled the Gurugram-based company’s valuation to $2 billion. In 2019, the business was valued at $933 million after a funding round, led by Tiger World wide. City Company has now develop into a unicorn, a startup valued at additional than $1 billion.

City Company has allotted 2,163 fairness shares of Rs 1 each at a high quality of Rs 2,sixty five,552.10 each and fifty,490 Collection F compulsorily convertible cumulative choice shares (Collection F CCPS) of Rs 10 each at a high quality of Rs 2,sixty five,543.10 each in the business on a preferential foundation, aggregating to Rs 1,410.2 crore or $one hundred ninety million, demonstrate regulatory documents sourced from the small business intelligence system Tofler.

Apart from Prosus, the other traders contain

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