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Social commerce platform Meesho raises $275 million » Yes, Punjab

New Delhi, May 11, 2024
Social trading platform Meesho has raised $275 million, according to documents filed by the company with the US Securities and Exchange Commission (SEC).

The fundraising, part of the ongoing round, came from existing investors including SoftBank, Prosus, Elevation Capital and Peak XV Partners.

The latest funding valued Meesho at $3.9 billion. According to reports, Meesho may increase the current round size to $500-600 million.

The SEC documentation also showed a transfer of shares in Meesho’s US parent company.

The company did not disclose much information about further details of the share transfer.

In January this year, global investment firm Fidelity reduced the value of its stake in social trading platform Meesho to $3.5 billion.

The e-commerce platform’s investors include Meta, Peak XV, Prosus Ventures, B Capital and SoftBank.

According to reports, the current gross merchandise value (GMV) is over $5 billion. (Agency)