PE Fund Investments
E-tail unicorn Meesho attracts $270-M more: report
Bengaluru-based e-commerce platform Meesho has closed USD 250-270 million as part of the ongoing funding round from Tiger Global, Think Investments, Mars Growth Capital along with Peak XV Partners and WestBridge Capital at a valuation of around USD 3.9-4 Billion. This takes the round’s total funding to about USD 550 million, majority of which is a secondary purchase of shares.The firm has also filed an application at the National Company Law Tribunal (NCLT) Bengaluru for a reverse merger of its India unit, Fashnear Technologies, with the US parent, Meesho Inc., paving the way for its planned initial public offering (IPO). It is aiming to file the draft IPO papers in the second half of 2025 and a potential listing in 2026.The proceeds will be used for covering the tax outgo on the reverse merger.
Between Oct 2017 and May 2024, Meesho had raised about USD 1,463 M from Elevation Capital, Integrated Capital, Peak XV Partners, Prosus Ventures and others.For FY24, Meesho had reported about INR 7,615 Cr in Operating Income and about INR 305 Cr in Net loss.
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