Exclusive: Invesco in talks to invest in Swiggy at $10 billion valuation

Mumbai: Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to three people aware of the matter. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation ascribed to the seven-year-old venture a few months ago. If the deal fructifies, Swiggy will rank among India’s most valued privately owned startups after edtech firm Byju’s and fintech major Paytm, which is slated to go public later this year.