Social Commerce Platform Meesho Raises $300 Million In Funding
Meesho, a social commerce platform, has raised $300 million in a new funding round led by Japan’s SoftBank Vision Fund 2.
The funding round also saw participation from Meesho’s existing investors Prosus Ventures, Facebook Inc., Shunwei Capital, Venture Highway and Knollwood Investment.
As per the startup, it plans to use the funds to build a single digital ecosystem for 100 million small businesses and hire the best talent in the industry. The startup also aims to use the raised funds to strengthen its talent pool across verticals — tech, product, and business, among others.
Started by Vidit Aatrey and Sanjeev Barnwal in 2015, Meesho is a social commerce platform that connects manufacturers with re-sellers, who eventually sell these products to users through social media platforms like WhatsApp and Facebook.
Talking about the fundraise, Vidit Aatrey, Founder and CEO of Meesho, said,
“We take pride at the rate of speed and scale at which Meesho has grown, impacting a number of lives and creating exponential learning along the way. We are focused on expanding our vision from focusing on enabling aspiring women entrepreneurs to creating Meesho as a single ecosystem that will enable all small businesses to succeed online.”
Meesho provides entrepreneurs with the right supply across 100+ categories, logistics, & payment capabilities to successfully run their business.
According to the social commerce platform, it has delivered orders from 100,000 registered suppliers to over 26,000 pin codes in more than 4,800 cities. Mesho has generated over 500 crores in income for individual entrepreneurs and serving customers in more than 4,500 Tier-II cities.
Need legal assistance for your startup? Just contact us.