Meesho raised $300 million in a funding from investors including Tiger Global and SoftBank to pay relevant taxes ahead of its planned IPO.

Mar 26, 2024•over 1 year ago

Amount Raised

$300 Million

BengaluruFinancial ServicesSoftware

Investors

Mars Growth CapitalPeak Xv PartnersSoft BankTiger Global

Description

Meesho is set to raise $300 million from investors including Tiger Global and SoftBank. The latest funding round will also mark the return of Tiger Global in India as it will be the investor’s first major round since Scott Shleifer stepped down in November. The current round values Meesho at $3.9 billion, 20% lower than its previous valuation of $4.9 billion in 2021. The funding will be used to pay the relevant taxes ahead of Meesho's planned IPO.

Company Information

Company

Fashnear Technologies Private Ltd

Location

Bengaluru, Karnataka, India

About

Other new backers include Footpath Ventures and debt venture debt fund Trifecta Capital, the company said. The company said it had 15 million transacting users in the same month. The company operates in the community group buying model driven by leaders. In April, Meesho was valued at $2.1 billion when it raised $300 million from SoftBank Vision Fund, which was its larger financing round. This year, Meesho also started to focus on selling directly to consumers through and compete directly with Walmart-owned Flipkart and Amazon India, ET reported on April l3.“We Meesho will use the fresh capital to double its research and development team and acquire more users.

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Funding Insights

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