Facebook-backed Meesho has raised $300 million in a new round of funding led by SoftBank Vision Fund 2, catapulting the social commerce startup valuation to $2.1 billion.

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.

Meesho Raises $300 Million From Softbank Vision Fund As Valuation Races Past $2 Billion

Meesho Raises $300 Million From Softbank Vision Fund As Valuation Races Past $2 Billion

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