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The Silicon Review Asia

Expansion Plan: Meesho Raises $125 in Series D Funding

Expansion Plan: Meesho Raises $125 in Series D Funding

Meesho, an e-commerce company, has raised $125 million in its Series D funding round. The funding was led by Naspers, a media company. Tech Crunch reports say that the company will use the fundings to expand its social commerce business.

Other participants in the funding round included existing investors such as Venture Highway, SAIF, Sequoia, Shunwei Capital, and RPS. Social media giant Facebook also took part in the funding round including the former CEO of Vodafone Group.

According to Meesho, the new capital will be used to tap other parts of India and grab 18 million new sellers by the end of 2020. The capital will also boost the company’s goal to expand its community of women entrepreneurs who have plans to establish their individual business but have been halted by lack of funds and expertise.

In addition, the fresh fundings will help the company to further expand its tech platform and accommodate fresh product lines.

The company has raised $190million in fundings till now.

Incorporated in 2015, Meesho helps sellers to engage with customers on social media platforms such as Facebook, Instagram and others. The company serves more than 5 million enterprises and individuals. Eighty percent of the company’s user base is female.

According to Meesho, there are over 2 million re-sellers under its belt which specializes in the field of electronics, home appliances, and apparel.  Majority of the re-sellers are homemakers, who haven’t purchased a smartphone yet.

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