Meesho, a social commerce platform that helps resellers and emerging brands build businesses using social media, has raised $50 million in a Series C funding round. New investors in the round are Shunwei Capital, DST Partners and RPS Ventures. Existing investors- Sequoia India, SAIF Partners, Venture Highway and Y Combinator also invested in this round.
Founded by IIT-Delhi alumni Vidit Aatrey and Sanjeev Barnwal in 2015, Meesho’s social selling platform aims to create 20 million successful entrepreneurs by 2020. Meesho has created an alternate distribution channel by empowering housewives, young mothers, aspiring entrepreneurs, students, teachers, etc to launch, build and promote their online businesses using WhatsApp, Facebook and other social media channels.
Meesho will use the fresh funds to build a stronger product, scale its technology team while expanding into more categories and scaling domestic & international supply base.
“We’ve witnessed 10x growth over the last 6 months and have made significant progress in improving the experience of our sellers and consumers,” said Aatrey. “With this new round of funding and the strong team we’ve built at Meesho, we are confident we will continue to create value for our resellers and suppliers, and reach end consumers not served well by traditional e-commerce models.”
Social e-commerce is the next big thing in the e-commerce space of India. We strongly believe that Meesho’s social reselling model is highly suitable for the great number of new-to-Internet buyers. It’s our pleasure to work with the excellent team of Meesho on this exciting opportunity.