Prosus N.V., the global consumer internet group chaired by South African billionaire Koos Bekker, has invested about 139 million to raise its stake in Urban Company to 7.35 percent ahead of the Indian home-services providers stock market debut. This makes Prosus one of Urbans largest backers as the company prepares to test investor appetite in public markets.
Urbans stock market debut
Urban Company, founded in 2014 as UrbanClap, runs an online marketplace that connects households with services ranging from plumbing and carpentry to beauty care and spa treatments. The Gurugram-based firm now operates in 51 cities across India, the UAE and Singapore, reflecting its push to expand beyond its core base.