Fidelity may lead Meesho’s new $550-600M round taking valuation up to $5B

Mumbai | Bengaluru: Social commerce startup Meesho is finalising a $550-600 million financing round likely led by US asset manager Fidelity, two people in the know of the matter told ET, which will more than double the Bengaluru-based company’s valuation from its previous round to $5 billion.

Meesho was valued at $2.1 billion when it raised $300 million from SoftBank Vision Fund in April. Facebook cofounder Eduardo Saverin’s B Capital and other investors may join Fidelity in the funding round, sources privy to the matter said.