Fidelity, B Capital lead $570 mn funding in Meesho, valuation more than doubles to $4.9 bn

Mumbai/Bengaluru: Meesho has raised $570 million in a new round of funding led by US asset manager Fidelity and Eduardo Saverin’s B Capital after which its valuation has more than doubled to $4.9 billion in less than six months.

ET first reported that the social commerce startup was in talks to close a new financing round which will see it on board Fidelity and B Capital on September 24. Existing investors SoftBank Vision Fund, Prosus Ventures, and Facebook have also participated in the round.

Other new backers include Footpath Ventures and venture debt fund Trifecta Capital, the company said. Interestingly, Trifecta Capital has made an equity investment in the company.