B2B ecommerce platform JSW One closes Rs 575 Cr funding round, adds SBI to cap table

B2B ecommerce platform JSW One Platforms has been steadily building up its war-chest as it closes its Rs 575 crore funding round after adding SBI to its cap table.

The company raised Rs 235 crore from SBI at a post-money valuation of Rs 8,575 crore. The capital infusion is expected to support investments in its proprietary tech platform, expand operations, and ramp up its NBFC arm.

In an earlier tranche of the round, the company raised Rs 340 crore at a $1 billion valuation. The investment was led by Principal Asset Management, OneUp, JSW Steel and other investors. It marked a 3x jump from its last round in July 2023, where it secured Rs 205 crore from Japan's Mitsui & Co.

It clocked a 2.4x growth in FY25, after clocking its record high gross merchandise value (GMV) of Rs 12,567 crore. It is currently targeting Rs 8,000 crore in GMV during the first half of FY26, with a sustained growth rate of over 50%.

​"JSW One Platforms has become a key growth driver in India’s industrial ecosystem. With this funding, we are privileged to welcome SBI as a long-term partner while reaffirming our mission to empower MSMEs through tech-driven solutions. Our growing NBFC arm will play a vital role in bridging the working capital gap for MSMEs,” said Parth Jindal, Chairman, JSW One Platforms, in a press note.

The company competes with other B2B ecommerce players like OfBusiness, Jumbotail, and Indiamart, among others.

It plans to widen credit access on its platform, especially by improving underwriting capabilities and launching customised financial products for small businesses. A part of the capital will also be used to expand its distribution and logistics network, and improve its last-mile delivery, tailored fulfilment and embedded financial services layer.