Meesho, a Bengaluru, India-based online marketplace for resellers, raised $50m in a Series C funding.
Backers included new investors China’s Shunwei Capital, DST Partners and RPS Ventures, and existing investors Sequoia Capital India, SAIF Partners, Venture Highway and Y Combinator.
The company intends to use the funds to continue to develop the platform, scale the dev team, expand into more categories and grow its internal and international base of suppliers.
Founded in 2015 by Vidit Aatrey, CEO, and Sanjeev Barnwal, CTO, Meesho provides sellers with a platform to set up and manage an online store and share content and sells their products on social media platforms including Pinterest, WhatsApp, and Facebook.
The company, which was part of Y Combinator summer 2016 batch, covers over 500 cities and smaller towns across India.
It also operates Meesho Inc., its US subsidiary based in California.