Business

Meesho Secures $275M Funding with Plans for Expansion

May 11, 2024 1 min read

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The Indian e-commerce platform Meesho has raised $275 million in a recent funding round, bringing its valuation to approximately $3.9 billion. This round, confirmed by a regulatory filing with the U.S. Securities and Exchange Commission (SEC), included contributions from several existing investors such as SoftBank, Prosus Ventures, Elevation Capital, and Peak XV Partners.

Meesho, founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, has seen substantial growth with over 15 lakh (1.5 million) sellers on its platform and more than 140 million annual transacting users. The company's current gross merchandise value (GMV) run rate exceeds $5 billion.

This investment is part of a larger financing round that Meesho plans to expand to between $500 million and $600 million. The platform has amassed over $1.2 billion in funding to date. Additionally, Meesho is considering a reverse flip of its U.S. parent company, which is connected to its plans for a future initial public offering (IPO) in India.

#tech #venture-capital #startups

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