Meesho closes $275 million funding in first tranche, in talks for more
Ecommerce firm Meesho has closed a $275 million funding round through a mix of primary and secondary share sales, two people aware of the matter said.
A regulatory filing with the US Securities and Exchange Commission (SEC) also indicated share transfer at Meesho’s US parent firm without offering further details.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitThis marks the first tranche of a larger financing round of $600 million that the Bengaluru-based company, which competes with Amazon India and Flipkart, is aiming to close, according to a person aware of the matter. “The details are still being worked out for the broader round on valuation. It would be up to $3.9 billion but will be finalised once the round closes,” this person added.
$1.36 billion raised since 2015
Meesho “has closed the first part of the funding round with existing investors and with new investors also joining the round. It (Meesho) is still finalising the allocation for the rest of the funding round”, sources said.
ET had first reported on March 8 about Meesho being in talks for at least a $200 million secondary funding at a valuation of $3.5-3.9 billion with participation from new investor Tiger Global and existing backer Peak XV Partners, formerly Sequoia Capital India.
Since then, there has been an
