Social commerce platform, Meesho, has raised $300 million in new funding led by Softbank Vision Fund 2. With this investment, Meesho’s valuation is at $2.1 billion. The round also saw participation from existing investors Prosus Ventures, Facebook, Shunwei Capital, Venture Highway, and Knollwood Investment. With this funding, Meesho plans to build a single digital ecosystem for 100 million small businesses, and hire the best talent in the industry.
Startup nurturing platform India Accelerator plans to expand its startup portfolio by over three-folds in 2021 with investment in around 100 such ventures. The company invests Rs 25 lakh in select startups every year then mentors them and connects them with other investors as they mature, India Accelerator founder Ashish Bhatia told PTI.
SBI Cards and Payment Services (SBI Card) has been seeing over 50 percent of its transactions via online payments such as on groceries, utility bills, insurance premium, and hopes the trend to go up further as point of sale purchases are yet to pick up, a top company executive said. Keeping a watch on the recent coronavirus resurgence in the country across some key locations, SBI Card MD and CEO Rama Mohan Rao Amara said it would be too early to say whether it will have any bearing on people’s purchasing behaviour.