NEW DELHI – Unicommerce, the tech firm known for providing comprehensive management solutions to ecommerce entities, is setting its sights on a late-2024 initial public offering (IPO). The company, a subsidiary of Snapdeal, has enlisted investment firm CLSA to manage the book-building process. This move was confirmed by Kunal Bahl to X on November 7.
The SaaS platform has been integral to the operations of recently listed companies such as Mamaearth and Cello World. However, Unicommerce has not disclosed specific details about its IPO plans, stating only that it is exploring various funding options.
Over the last fiscal year, Unicommerce has processed more than half a billion transactions, which translated into an operating revenue of $900 million—an impressive increase of over 50% from the previous year. The company is currently testing its Unireco platform, which aims to streamline payment reconciliations for brands that deal with multiple marketplaces.
Unicommerce is not new to success; it has maintained a consistent profitability streak for over five years. The company boasts a significant customer base that includes over 700 enterprise relationships and thousands of SMB engagements. Notable clients include Myntra and Lenskart.
The company’s growth prospects appear robust, with an uptick in business inquiries from tier-2 and tier-3 cities in India. Furthermore, Unicommerce is strategically expanding into West Asian markets. The platform leverages artificial intelligence to provide deep insights into customer behavior patterns, which helps brands in refining inventory management and optimizing operational efficiency.