Prosus, a global investment firm, is set to increase its stake in Urban Company through a secondary deal valued at $30 million. The transaction, which will take place at a flat valuation of $2.6 billion, aligns with Urban Company’s preparation for an anticipated IPO next year.

This investment reflects Prosus’ ongoing strategy to deepen its presence in high-growth Indian tech startups. Urban Company, a leading player in the on-demand home services sector, has gained traction in India and has been identified as a valuable addition to Prosus’ portfolio. This latest deal indicates Prosus’ confidence in the company’s growth prospects as it moves towards a public listing.

The investment follows an earlier transaction in July, when Urban Company raised INR 400 crore ($50 million) from Dharana Capital, underscoring sustained investor interest in the company. Prosus, known for its substantial investments in Indian startups like Swiggy, Meesho, and Eruditus, seeks to double its position in Urban Company before the IPO, which is expected to solidify the company’s standing in the market.

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Urban Company’s initial investors, including Accel Partners and Elevation Capital, recently participated in secondary transactions. With these investors reportedly holding on to their stakes ahead of the IPO, Urban Company’s valuation is anticipated to climb further. This move by Prosus comes amid shifts in India’s venture capital landscape, where early-stage investors are increasingly opting for secondary exits as fund cycles mature.

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