JSW One Platforms Raises INR 575 Cr to Boost Tech and MSME Financing The funding round saw participation from the State Bank of India (SBI), Principal Asset Management, JSW Steel, OneUp, International Conveyors, and Scarlett Ventures.
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JSW One Platforms, the B2B ecommerce venture of the JSW Group, has raised INR 575 crore in a fresh funding round from a group of prominent investors including the State Bank of India (SBI), Principal Asset Management, JSW Steel, OneUp, International Conveyors, and Scarlett Ventures.
The round, which commenced in May, values the company at approximately INR 8,575 crore.
Part of this funding, amounting to INR 340 crore, had been announced earlier this year.
The new capital infusion will support the company's plans to scale its technology infrastructure, expand its distribution and logistics network, and strengthen its non-banking financial company (NBFC) arm that provides financing solutions to small and medium enterprises (MSMEs).
Founded in 2021 by the JSW Group, JSW One Platforms operates through two main entities — JSW One Distribution and JSW One Finance — offering materials, credit, and logistics solutions to firms in the manufacturing and construction sectors.
The company aims to use this funding to deepen its presence in India's industrial supply chain and enhance access to finance for MSMEs.
"We want to leverage this round to build more technology. Supply chain is our core asset as a company, and today there are 14 stock points and about seven contract manufacturing locations. All of this needs to be integrated in real time to ensure on-time, in-full supply to our customers, and that's where a large part of our money will be used," said Gaurav Sachdeva, joint Managing Director and CEO of JSW One Platforms.
Sachdeva added that the company is equally focused on expanding its financial services division. "We are very excited to build our NBFC JSW One Finance as well," he said. The NBFC currently manages assets worth INR 100 crore and aims to increase that figure to INR 500 crore by the end of the year.
JSW One's lending platform currently works with several banks and financial institutions including ICICI Bank, IndusInd Bank, Yes Bank, Axis Bank, Standard Chartered Bank, TCL, Kotak Mahindra Bank, IDBI Bank, and Mizuho, alongside its own NBFC arm.
For the financial year ending March 2025, JSW One Platforms recorded a gross merchandise value (GMV) of INR 12,567 crore and revenue of INR 3,976 crore.
"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 of JSW One Platforms.
According to reports, the company is preparing for an initial public offering within the next 18 to 24 months, joining peers such as Zetwerk, Infra.Market, and OfBusiness. Recently, Infra.Market filed confidential papers with the Securities and Exchange Board of India for an INR 5,000 crore IPO.
