Social commerce startup Meesho is planning to raise $250 mn in a funding round led by Japan’s Softbank Vision Fund, which would see the company enter the unicorn club. The six-year-old Bengaluru-based startup will be valued at around $2 bn for the funding round, more than double the valuation of its previous round.
According to data on Crunchbase, to date, the company has raised $215.2 mn in eight funding rounds from 22 investors. The startup claims that it has 10 mn resellers on its platform, catering to 70 Mn customers. The resellers market and sell the products to customers on their social network through WhatsApp and Instagram, while the company helps these resellers with shipping and sourcing.