Food delivery app Zomato raises Rs 353 crore from Antfin Singapore

Food delivery and restaurant discovery startup Zomato has raised Rs 353.58 crore from Antfin Singapore Holding Pte. Ltd, an existing shareholder in the company. The Gurugram-based firm allotted 11,777 class J compulsorily convertible preference shares for this funding, according to financial data accessed by business intelligence platform, Tofler. The money is expected to help the firm competes with players such as Swiggy, Uber Eats and Dunzo in the delivery space.

This month Info Edge India, which is also an existing shareholder in Zomato announced that the firm has signed a definitive agreement to undertake a primary fundraise of up to $150 million from Antfin Singapore Holdings and its affiliates. “The transaction values Zomato at a pre-money valuation of $3 billion,” Info Edge had said in an exchange filing.