Through a combination of main and secondary share sales, e-commerce company Meesho finalised a US $ 275 million fundraising round, according to two people with knowledge of the situation.
Share transfers at Meesho’s US parent company were also mentioned in a regulatory filing with the US Securities and Exchange Commission (SEC), but no further information was provided.
This is the first installment in a larger US $ 600 million financing round that the Bengaluru-based company, which is in competition with Flipkart and Amazon India, hopes to close, according to a person with knowledge of the situation. For the larger valuation round, the specifics are still being worked out. The amount could reach US $ 3.9 billion, but it won’t be decided until the round ends, the source continued.
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.
