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Social media unicorn ShareChat raises $16-M debt from Singapore's EDBI

Business Line  

Bengaluru-headquartered social media unicorn Sharechat is to raise USD 16 million via convertible debt from Singapore-based EDBI. This will serve as a top up to the USD 49 million raised earlier in the year from existing investors.Founded in 2015 by Ankush Sachdeva, Bhanu Singh, and Farid Ahsan, ShareChat claims to have 325 million monthly active users across its platforms.

In Mar-24, ShareChat had raised about INR 407 crore in the first tranche of its Series I OCDs from Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, HarbourVest andt others.