It seems investor interest in Indian e-commerce giant Meesho just keeps growing! The popular shopping platform, which helps small businesses sell online, is looking to raise much more money than originally planned in its ongoing funding round. And with several big-name backers lining up to get involved, Meesho could end up with a whopping $500-650 million on the table – a sizable increase over the $300 million target.
Meesho’s immense popularity and potential for further expansion is clearly exciting major venture capital firms. Since first announcing plans to raise $300 million in March, the startup has seen “at least four” additional investors eager to participate according to sources familiar with the talks. With names like Tiger Global and Accel showing interest, it’s no surprise Meesho’s round is attracting such high-caliber support.
While the extra capital will help cover tax obligations from a recent corporate restructuring, most is expected to go towards Meesho’s ever-growing ambitions. The company wants to expand into new categories beyond clothing and diversify its 150 million customer base even further across India. Acquisitions complementing Meesho’s offerings are also on the table as it looks to add capabilities and strengthen key areas.
It’s an ideal time for Meesho to pursue loftier goals with fresh funding in hand. After halving losses last year, the startup has remained profitable month-to-month in 2023 on the back of increased sales and monetization efforts. With a devoted user base and business model empowering entrepreneurs, Meesho is primed for the next phase of expansion.
This latest fundraising spree shows how excited outsiders remain about Meesho’s potential for further growth and impact. As India’s e-commerce scene continues booming with new shoppers going online daily, homegrown players like Meesho are ideally positioned to capture more market share. With support from top-tier backers, Meesho has the fuel to scale even taller heights and cement its role in transforming Indian retail.
It will be exciting to see how Meesho utilizes the massive war chest and how its business evolves in the coming years. One thing is for sure – with ambitious goals and deep-pocketed investors behind it, this Indian startup’s story is just getting started.
In summary, Meesho, the popular Indian ecommerce platform empowering small businesses, is looking to increase its ongoing funding round to $500-650 million due to high investor interest. With names like Tiger Global and Accel lining up, Meesho is attracting strong backers as it seeks to expand into new categories and pursue acquisitions to complement its offerings.
