Farmer’s Business Network will invest the funds in technologies and services designed to help its 12,000 members grow and operate more efficiently and profitably.
The funding from two Silicon Valley firms and prior investors comes as Udaan.com, which launched in 2016, has surpassed $1 billion in gross merchandise sales, India-based ET Tech.com reports.
Apttus, one of the early providers of “quote-to-cash” and other business software built on the Salesforce.com technology platform, expects to “scale to new heights” with Thoma Bravo’s backing.
The internet behemoth is in early discussions with banks including JPMorgan Chase & Co. and Capital One Financial Corp. to create a product similar to checking accounts.