JSW One Platforms Secures INR 575 Cr to Broaden Operations and Fortify NBFC Division

JSW Group’s B2B ecommerce marketplace, JSW One Platforms, has secured an extra INR 235 Cr, bringing the total of its current funding round to INR 575 Cr. State Bank of India (SBI), Principal Asset Management, One-Up, International Conveyors Ltd. (ICL), Scarlett Ventures, and JSW Steel participated in the funding round. This year in May, the company commenced the funding round. At that time, the JSW One Platforms declared a fundraising of INR 340 Cr at a unicorn valuation.JSW One Platforms stated that it will use the new capital to invest in its own technology platform, broaden its operations, and reinforce its non-banking financial company (NBFC) division. The company will use the funds to improve credit access, strengthen underwriting capabilities, and create tailored financial products for small businesses.

It also intends to enhance its distribution and logistics network across key industrial clusters to improve last-mile delivery, fulfilment, and the provision of embedded financial services, according to a statement.JSW One Platforms, established in 2020, serves as a B2B tech-enabled marketplace aimed at construction and manufacturing MSMEs. Its services encompass procurement, credit, fulfilment, and private brands. JSW One Platforms also runs JSW One Homes, which links clients with contractors and professionals to manage the full process from purchasing a plot to constructing a home.In 2023, JSW One Platforms secured Series A funding amounting to INR 205 Cr ($25 Mn) at a valuation of INR 2,750 Cr. Mitsui & Co Ltd. took the lead in the round. The company stated at that time that the funding round in May resulted in a valuation increase of more than three times compared to the round in April 2023. JSW One Platforms stated that its gross merchandise value (GMV) grew 2.4 times year-on-year, reaching INR 12,567 crore in FY25. The firm stated that it is expected to exceed INR 8,000 Cr in GMV during H1 FY26. According to Tofler, the company reported a revenue of INR 70.7 Cr in FY24. The net loss amounted to INR 199.8 Cr.