Online reselling platform developer Meesho enlisted Facebook, SoftBank Vision Fund 2 and Prosus Ventures for a round that valued it at $4.9bn.
India-based online reselling platform Meesho has amassed $570m in funding at a $4.9bn valuation from investors including social network operator Facebook, internet and telecommunications group SoftBank and internet group Prosus.
Investment and financial services group Fidelity and investment firm B Capital Group co-led the round, which also featured Footpath Ventures and Trifecta Capital.
SoftBank tapped its Vision Fund 2 to participate in the round while Prosus, which was formed by media and e-commerce group Naspers, was represented by its corporate venturing unit, Prosus Ventures.
Founded in 2015, Meesho runs an online platform that lets small businesses and entrepreneurs sell products to consumers through social media. It also handles the administrative side of selling through services including supply chain management, payment processing and logistics.
The company claims to have helped more than 15 million entrepreneurs start their own online businesses in India. It has raised just over $1bn to date.
SoftBank…
