Indian social e-commerce company Meesho receives USD 300 million financing led by SoftBank

Recently, the Indian social Meesho electricity supplier company announced the completion of a new $300 million round of financing from SoftbankVision Fund II led the investment, old shareholders Shunwei Capital, Facebook, Porsche Ventures, VentureHighway, and Knollwood Investment joined the vote. After this round of financing, the company’s market value reached 2.1 billion U.S. dollars, becoming the fourth Indian startup to enter the “Unicorn Club” in 2021.

Meesho said that the new round of financing will be used to strengthen the talent pool in all areas of technology, products, and business, and plans to increase 100 million online social sellers.

Vidit Aatrey, the co-founder and CEO of Meesho, said: I am very happy to receive SoftBank’s support in this round of financing. A shop can successfully realize online commercialization.

In 2015, Meesho was co-founded by ViditAatrey and Sanjeev Barnwal and is the pioneer of the social e-commerce market in India. The Meesho platform is committed to connecting tens of millions of Indian social sellers with a large number of dispersed goods and service providers and provides logistics, payment, and other tools to help these sellers to easily and effectively use their social networks in WhatsApp, Facebook, and Promote and sell on platforms such as Instagram.

It is reported that Meesho has established a network of tens of millions of social sellers in more than 5,000 cities and towns in India. This network provides a new distribution channel for tens of thousands of suppliers on the platform, allowing their products and services to be distributed online.

Merchants more efficiently reach the vast majority of ordinary consumers in India. Meesho currently focuses on products in categories such as clothing, home furnishing, beauty and health, and digital 3C, and brings a monthly income of 25,000 rupees (about 2,238 yuan) to each social seller.

We will be happy to hear your thoughts

Leave a reply

Register New Account
Reset Password
Compare items
  • Total (0)