Indian-origin social commerce platform – Meesho has announced that the company had raised $300 million from SoftBank Vision Fund.
Existing investors – Facebook, Prosus Ventures, Venture Highway, Shunwei Capital and Knollwood Investment also participated in the latest financing round of Meesho.
Speaking on the investment, founder and CEO of Meesho – Vidit Aatrey said, “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. In the last one year, we have seen tremendous growth across small businesses and entrepreneurs seeking to move their businesses online.”
Partner at SoftBank Investment Advisers – Sumer Juneja added, “We have been closely tracking Meesho for the last 18 months and have been impressed by their growth, daily engagement metrics, focus on unit economics and ability to create a strong team. We believe Meesho provides an efficient platform for SME suppliers and social resellers to onboard the e-commerce revolution in India and help them provide personalized experience to consumers.”
Founded by IIT Delhi graduates Vidit Aatrey and Sanjeev Barnwal in December 2015, Meesho operates as an online marketplace, which connects resellers such as housewives, students, small business owners, directly with raw material suppliers. Resellers use WhatsApp, Facebook, Instagram, and other social media platforms to promote products.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.