Social trading platform Meesho, Softbank Vision Fund 2 on the investment tour under the leadership of $ 300 million announced that it has received investment. With this investment, Meesho’s valuation, which was $ 700 million in 2019, nearly tripled. $ 2.1 billion reached. Investment tour, Prosus Ventures, Facebook, Shunwei Capital, Venture Highway and Investment in Knollwood also participated.
Meesho helps small businesses and individuals become marketers on social platforms like WhatsApp, Facebook, and Instagram. Founded by Vidit Aatrey and Sanjeev Barnwal in December 2015, India-based start-up offerings include order management, logistics, online payments, real-time store updates, and helping businesses subscribe to their customers.
The initiative claims to have a network of more than 13 million entrepreneurs, mostly women, from hundreds of villages in India mainly engaged in clothing, household appliances and electronics. Meesho competes with companies like GlowRoad and Shop101.
Meesho said he will distribute the investment to 100 million individuals and small businesses in the country to help them sell online. Founder and CEO of Meesho Vidit AatreyThey are very excited to have SoftBank within their structure; He says that in the last year, they have seen an increase in the number of small businesses and entrepreneurs who want to move their businesses online, and have adopted helping them as a mission. Meesho aims to simplify e-commerce for all small businesses in India.
Prior to this investment, Meesho received a $ 125 million investment in the Series D investment tour in August 2019 with participation from Sequoia, Shunwei, Elevation Capital, Venture Highway, RPS, Facebook and the former CEO of Vodafone, Arun Sarin.