Snapdeal-owned Unicommerce, a company that enables ecommerce services, is preparing to go public in the second half of 2024, as per media repots.
Reports further added that the company have started the book-building process and have enlisted CLSA as one of the managers for the initial public offering (IPO).
Kunal Bahl, the co-founder of AceVector Group, hinted at this development in a post on X (formerly Twitter). Unicommerce’s platform facilitates various ecommerce operations such as warehouse and inventory management, order management, omnichannel retail management, and seller management.
In the last fiscal year, the platform recorded 566 million transactions, a 38 per cent increase compared to the previous year, and generated operating revenue of USD 900 million.
Unicommerce also operates a platform called Unireco for payments reconciliation. The company claims that it has been profitable for the past five years and serves over 700 enterprise clients and 3,000 SMB clients.
Unicommerce has expanded into six countries in West Asia and Southeast Asia and aims to deepen its presence there. The company utilises artificial intelligence (AI) to provide insights to customers and partners on returns propensity, brand performance on different platforms and the effectiveness of warehouse locations.
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